The Dow finished marginally higher on Wednesday, while the S&P 500 and Nasdaq 100 added 1% and 2%, respectively, and pared earlier losses after the Fed Chair Powell's news conference. Powell was more optimistic about the outlook for inflation, saying: "We can now say for the first time that the disinflationary process has started.", which sent stocks higher. The Federal Reserve raised the target range for the fed funds rate by 25bps to 4.5%-4.75% at today’s meeting and brought the borrowing costs to their highest since 2007. On the corporate front, Snap dipped over 10% after reporting a poor outlook and a wider-than-expected loss, while Peloton surged 26% after its net loss narrowed year over year. Advanced Micro Devices advanced 12.6% on its upbeat earning reports.