Hike and pause
*FED RAISES BENCHMARK RATE 25 BPS TO 5%-5.25% TARGET RANGE
*FED OMITS PRIOR LANGUAGE THAT SIGNALED MORE HIKES AHEAD
— zerohedge (@zerohedge) May 3, 2023
The Federal Reserve raised its key interest rate another quarter of a percentage point on Wednesday in its ongoing bid to crush inflation.
The Fed’s rate-setting body said it would raise its benchmark rate to a range between 5% and 5.25%, the highest level since 2007. The increase is the 10th straight interest-rate hike since last March in what has been the most aggressive rate-hiking regime since the 1980s.
https://www.cbsnews.com/news/federal-reserve-interest-rate-hike-0-25-percentage-point/
h/t MoonPie