Here’s our plan for Monday after another painful week of owning stocks

U.S. Federal Reserve Chairman Jerome Powell holds a news conference after raising the Federal Reserve’s target interest rate by three-quarters of a percentage point in Washington, Sept. 21, 2022.

Kevin Lamarck | Reuters

Stocks posted their third straight gain this week after the Federal Reserve raised interest rates by another 75 basis points. It wasn’t the rate change expected by the market, but Fed Chairman Jerome Powell’s outspoken comments on Wednesday hurt stocks. It now targets a rate of 4.4% at the end of the year, up from the 3.4% forecast at the central bank’s June meeting.

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