The Fed raised rates 25 basis points today, pushing the funds rate to 4% as major indices sold off in anticipation.
Brent Crude surged to $109 and WTI hit $106 as renewed Middle East fighting and a Saudi pipeline shutdown drove energy prices higher.
Bitcoin dropped nearly 4% to $76,180 after the Clarity Act crypto regulation bill failed in the Senate by a single vote, 50-49.
Read More: Avoid these 13 retirement mistakes before they derail your future (sponsor)
Futures are trading higher as the Federal Reserve's reckoning day has arrived. Interest rate futures tracked by CME FedWatch show a 92% chance of a 25-basis-point increase in the Fed funds rate today. That will push the funds rate to 3.75% to 4%. In addition, market watchers expect two more rate hikes over the next year to tackle sticky inflation, exacerbated by the war with Iran and rising oil prices.
#funds
Brent Crude surged to $109 and WTI hit $106 as renewed Middle East fighting and a Saudi pipeline shutdown drove energy prices higher.
Bitcoin dropped nearly 4% to $76,180 after the Clarity Act crypto regulation bill failed in the Senate by a single vote, 50-49.
Read More: Avoid these 13 retirement mistakes before they derail your future (sponsor)
Futures are trading higher as the Federal Reserve's reckoning day has arrived. Interest rate futures tracked by CME FedWatch show a 92% chance of a 25-basis-point increase in the Fed funds rate today. That will push the funds rate to 3.75% to 4%. In addition, market watchers expect two more rate hikes over the next year to tackle sticky inflation, exacerbated by the war with Iran and rising oil prices.
#funds
2 months ago
