Just In: Fed Announces 0.5% Rate Hike - Wall Street and Bitcoin Like it
The Federal Reserve announced a 50 basis point interest rate hike during May’s Federal Open Markets Committee meeting. This is twice the size of the rate increase from last month, and the largest hike since May of 2000.
The central bank has also begun to reduce the size of its balance sheet, issuing specific plans for reducing its securities holdings. The chairman believes that there is room to tighten the market right now, given that job vacancies currently outstrip unemployment by a ratio of nearly 2 to 1.
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