Fed Announces Biggest Interest Rate Hike in 28 Years; Bitcoin Gains
— Tightening, Lend, Hike, Interest, Fed funds rate, Bond traders, Biggest, End, Range, 5 %- 1 — 1 min read
The Fed Funds rate will rise to a range of 1.5%-1.75%, according to the Fed. Bond traders are pricing in a range between 3.25%-3.5% by the end of the year. Goldman Sachs says the pace of monetary tightening will be unusually rapid and harsh, according to Goldman Sachs. The Fed is expected to raise the rate of interest rates to 1.75% by end of this year, the central bank said in a statement on Wednesday. The central bank has said it will raise the level of interest in borrowing and lending to each other overnight to keep the Fed Funds Fund Account Account Accountableableable Rate (FRC) at 1.6% per year. The rate is now 1.7% Source