The Federal Reserve on Wednesday approved its 10th interest rate increase in just a little over a year and dropped a tentative hint that the current tightening cycle is at an end.
In a unanimous decision widely expected by markets, the central bank’s Federal Open Market Committee raised its benchmark borrowing rate by 0.25 percentage point. The rate sets what banks charge each other for overnight lending but feeds through to many consumer debt products such as mortgages, auto loans and credit cards.
The increase takes the fed funds rate to a target range of 5%-5.25%, the highest since August 2007.
Markets, though, are more focused on whether the Fed will pause here, particularly with lingering concerns over economic growth and a banking crisis that has rattled nerves on Wall Street. Stocks rose slightly and Treasury yields were mostly lower immediately following the Fed news, but stocks struggled to hold on to the gains.
We Starving Now !!!! Thanks to BIDEN !!!!
And all the obiden voters 11:23