Fed's Rate Hike Pause and Inflation Progress Boosts Investor Sentiment and S&P 500.

The Federal Reserve has decided to hold interest rates steady for now, but has forecasted two more rate hikes this year. The stock market initially slipped in response to the news, but later pared losses as Fed Chair Jerome Powell's press conference continued. Powell noted that inflation is still far above the Fed's 2% target and not coming down as quickly as the central bank had hoped. Meanwhile, Bud Light has lost its position as America's favorite beer, with Modelo Especial taking the top spot in the most recent reported week.