“Recent indicators point to modest growth in spending and production,” the FOMC said when it hiked the interest rate by 75bps on Wednesday.
The Fed Codifies Fourth Consecutive 75bps Rate Hike — Stocks, Bitcoin, and Metals Rise
The U.S. Federal Reserve introduced another jumbo rate hike on Wednesday, Nov. 2, 2022, by hiking the federal funds rate by 75 basis points . The American central bank said on Wednesday that the hike aims to curb inflation and the Fed says “recent indicators point to modest growth in spending and production.”While U.S. president Joe Biden hosted an event called the “Infrastructure Talent Pipeline Challenge,” the country’s central bank increased the FFR once again by 75bps on Wednesday.
The Fed’s rate hike follows the U.S. central bank’s key inflation gauge, the personal consumption expenditures price index
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