Fed Hikes Interest Rate by 75 bps, fourth straight time, but hinted that it could soon reduce the size of its rate hikes.

The Fed’s move to tame inflation raised its key short-term rate to a range of 3.75% to 4%, its highest level in 15 years

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The interest rate hike will make mortgages and other consumer and business loans more expensive and will elevate the risk of a recession.

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Earlier, the US stock market indexes were trading lower ahead of the Federal Reserve interest rate decision.

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The US stock market indexes erased early losses and jumped after Fed’s interest rate decision as widely expected

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The US 10-year-old Treasury bond yields and the Dollar index slipped after the Fed’s decision.

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At the close, the US major Indexes Dow Jones and S&P500 fell 1.55 and 2.50 percent respectively while Nasdaq was down by 3.36 percent on Wednesday

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