In what appears as a general market expectation, the United States Federal Reserve has hiked its interest rate by 25 Basis Points (B.P) in what appears to be a sustained effort to combat inflation that is yet to abate to the desired range. Despite this relatively mild interest rate hike, the US Fed Reserve has omitted the prior dovish tone, signaling more rate hikes can still be expected in the near future.
The Federal Reserve Chairman said the decision to hike interest rate by 25 BPS by the Federal Open Market Committee (FOMC) was a unanimous one, a show of unity in the fight to take the US economy back to its desired level.
Market experts have been projecting a slowdown in rate hike considering the recent turmoil the US financial ecosystem has faced with about 4 banks collapsing in recent times. The Fed’s rate hike is an indication that the Feds prioritize the inflation fight and its impact on the economy.
This is a breaking news, check back for updates
The post Breaking: FED Hikes Interest Rates By 25 BPS, Signals Pivoting Ahead appeared first on CoinGape.
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