Fed Goes Big Again With 75 Basis Point Hike In Bid To Curb Inflation

Fed Goes Big Again With 75 Basis Point Hike In Bid To Curb Inflation

The Federal Reserve hiked interest rates by three-quarters of a percentage point for the third consecutive time, sending Bitcoin below $19,000.The Federal Open Markets Committee (FOMC) raised U.S. interest rates by 75 basis points on Wednesday, the third hike in a row of such a size as it wrestles with stubborn inflation levels.The market was pricing 82% probability of a 0.75% increase in rates ahead of the release of Fed’s statement at 2 p.m. ET, according to CME’s FedWatch tool. The odds of a historic 100bps increase, which hasn’t happened since 1981, sat at 18%.Bitcoin touched $18,704....


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