Bitcoin Touches $40,000 As Fed Raises Rates In Biggest Hike In 20 Years

Bitcoin Touches $40,000 As Fed Raises Rates In Biggest Hike In 20 Years

The Federal Reserve raised rates by 50 basis points on Wednesday in its latest attempt to curb inflation in the U.S.The U.S. Federal Reserve (Fed) has raised interest rates by 50 basis points in its largest hike since 2000.Bitcoin briefly touched $40,000 after the Fed released its new monetary policy guidelines. Image source: TradingView. The central bank’s Federal Open Markets Committee (FOMC) said in a Wednesday statement that the decision was made to support its goals of achieving maximum employment and curbing inflation rates to 2% over the longer run.The committee also announced....


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FOMC Chair Jerome Powell assured investors that the Fed is ‘not trying to induce a recession’ in the United States.

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Fed hikes interest rates by 50 basis points in effort to combat inflation

The May Federal Open Market Committee policy meeting concluded with the largest single rate hike in over two decades. The United States Federal Open Market Committee (FOMC) concluded two days of meetings Wednesday with a widely anticipated announcement of an interest rate hike of 50 base points, or 0.5%. It is the second of an expected seven rate adjustments this year. In March, the Federal Reserve raised its benchmark rate by 25 basis points, or 0.25%, marking the first upward adjustment since 2018. Markets were braced for Wednesday’s hike, which was the steepest since 2000, so the....