Fed Rate hike

Today, On 15 June 2022 To fight rising inflation, the Fed raises 0.75% the biggest interest rates for the first time in decades 

The Federal Reserve ramped up its fight against inflation on Wednesday, imposing the highest interest rate boost in 28 years as it tries to curb in skyrocketing consumer costs.

May inflation was higher than predicted, FED authorities decided to take a more aggressive approach.

In compare to a year earlier, consumer prices were up 8.6%

The hike reflects increased expenses for not just fuel and food, but also rent, airlines, and a variety of other services.

The Dow Jones and S&P 500 react positive after Fed Meeting, with Dow Jones Up +393 points and S&P 500 Up +66 points