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Cryptocurrencies: 27289
Markets: 108940
Market Cap: $3,811,914,659,354     
24h Vol: $95,467,003,561
Bitcoin.com 2022-12-14 21:00:53

Federal Reserve Hikes Rate by 50bps, FOMC Signals Rate to Rise to 5.1% Next Year

Federal Reserve Hikes Rate by 50bps, FOMC Signals Rate to Rise to 5.1% Next Year
The U.S. central bank’s Federal Open Market Committee (FOMC) convened on Wednesday and raised the federal funds rate by 50 basis points (bps). The 0.5 percentage point rise follows the four consecutive three-quarters of a point increases codified during the last few months. The FOMC’s rate hike follows the recent U.S. inflation report which indicated
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