Bidenomics: Inflation is still near record highs as Fed expected to continue to raise rates.

Stocks closed lower Tuesday as the market reacts to the release of the Federal Reserve’s meeting minutes from last month. The minutes showed the central back expects to keep raising interest rates to fight back against inflation. Wall Street also reacted aggressively to today’s release of the producer price index, which came in higher than expected for September, as we continue in recession.