Fed Interest Rate Decision

In a widely anticipated move, the FOMC announced on Wednesday that it was hiking interest rates by 50 basis points—the largest increase since 2000. This came as no surprise, with everyone from commentators, economists, money managers, and political pundits expecting the aforementioned half-point hike. This leaves the Fed Funds lower target (the overnight rate) at 0.75% and the discount rate …

Fed Interest Rate Decision

As expected, the Federal Reserve announced today its first interest rate hike since 2018—25 basis points. This was not a surprise; market participants expected this. Even though some Fed officials briefly hinted at the possibility of a 0.50% hike at one point, they ended up forgoing that option, likely to avoid further destabilizing the markets after the bout of volatility …