Has the Federal Reserve's 5% hike in borrowing costs mitigated inflation?
MINUTE UPDATE- What will the market implications be for investors following the Federal Reserve's Interest Rate and Policy Announcement, scheduled for 14:00 EST?
Today, at 14:00, Jerome Powell's Federal Reserve, following its two-day June board meeting and ten consecutive interest rate hikes resulting in a cumulative increase of 500 basis points, will announce their decision: whether to persist in raising interest rates, pause, or signify an end to the Fed's rate hikes by reversing course. This week's Fed Funds rate stands at 5.25%, within the current Federal Reserve range for Fed Funds between 5% and 5.25%. Stock market traders and retail investors have staked significant bets on the Federal Reserve's policy trajectory.