Federal Reserve Raises Rates, Biggest Hike In 20 Years

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The U.S. Federal Reserve (Fed) has raised interest rates by 50 basis points in its largest hike since 2000.

Bitcoin briefly touched $40,000 after the Fed released its new monetary policy guidelines.

Bitcoin touches $40,000 as Fed raises interest rates

Image source: TradingView.

The central bank’s Federal Open Markets Committee (FOMC) said in a Wednesday statement that the decision was made to support its goals of achieving maximum employment and curbing inflation rates to 2% over the longer run.

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