“FOMC hikes interest rates by 25bps to 0.25%-0.50% as expected.” The US Federal Reserve has this morning raised interest rates for the first time in almost 10 years. With the move was widely expected by economists and market participants alike, all interested eyes were focused on the pace of subsequent rate increases now that a new cycle had begun. The Federal Open Market Committee (FOMC) unanimously (no more chopping and changing!) voted to set the new Federal Funds Rate target range at 0.25%
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