On Wednesday afternoon, the Federal Reserve announced it would raise rates by 75 basis points, in line with the markets’ expectations. There was a tremendous amount of investor angst leading up to the meeting in the face of the highest inflation in decades. However, Federal Reserve Chair Jerome Powell managed to signal confidence to the markets the central bank is committed to stomping inflation. | |
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Federal Reserve hiked interest rates by 75 basis points
June 16, 2022