the staff of the Ridgewood blog
Washington DC, on Wednesday the Federal Reserve raised its benchmark interest rate by half a percentage point, the most aggressive step yet in its fight against a 40-year high in inflation. In remarks after the Federal Open Market Committee voted to raise its key interest rate by 50-basis points for the first time since 2000, Powell rebuffed any suggestion that a mega-sized, 75-basis point increase is on the table at future meetings. The S&P 500 rose 3% following his comments, the biggest jump since May 2020.
Continue reading The Fed Wakes Up Raises its Benchmark Interest Rate by Half a Percentage Point
