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Federal Reserve Hikes Rates Up by 25 Basis Points Despite Banking Turmoil

The Federal Reserve has raised the federal interest rates by 0.25% to a range of 4.75% to 5% during the Federal Open Market Committee, in a continued effort to combat inflation. The Fed began aggressively hiking rates in March 2022, raising borrowing costs and strengthening the value of the US dollar. However, despite raising rates multiple times, inflation remains at 6% year-on-year, well above the Fed’s goal of 2%. Federal Reserve Chair Jerome Powell has indicated that the central bank is considering resuming aggressive rate hikes. The collapse of Silicon Valley Bank and concerns about the resiliency of the US banking sector in a high-interest rate environment prompted the Federal Reserve to guarantee depositors would be made whole. The author of the article discloses that they hold BTC, ETH, and other crypto assets, but Decentral Media, Inc. does not give investment advice and makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through their website.

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