The Fed raises interest rates by 50 basis points to fight inflation

United States, New York, New York

Published 1 year ago

ID #1591

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The Fed raises interest rates by 50 basis points to fight inflation

United States, New York, New York,

Published 1 year ago

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Markets were braced for Wednesday's rally, which was the biggest since 2000, so the immediate reaction is expected to be muted. Fed Chairman Jerome Powell hinted at a 50 basis point adjustment at a debate hosted by the International Monetary Fund in April.

This is the second of seven rate adjustments planned for this year. In March, the Federal Reserve raised its benchmark interest rate by 25 basis points, or 0.25%, marking the first upward adjustment since 2018.

*FED RAISES RATES 50 BPS, TO START RUNOFF JUNE 1 AT $47.5B/MTH*FED EXPECTS `ONGOING’ INCREASES IN RATES WILL BE APPROPRIATE*FED: RUNOFF PACE TO RISE TO MAXIMUM $95B/MTH AFTER THREE MONTHS

The US Federal Open Market Committee - FOMC concluded two days of meetings on Wednesday with the long-awaited announcement of an interest rate hike of 50 basis points, or 0.5%.

Fed inflation

inflation points

points rates