Stock futures rise after Fed's rate hike spurs a market sell-off: Live updates
In a widely anticipated move, the Fed raised the overnight funds rate by a quarter percentage point and signaled another hike could come this year.
The Federal Reserve raised interest rates by a quarter of a point, its first hike in three years. This move was widely anticipated and aimed to curb inflation. According to CNBC, the Fed signaled another hike could come this year.
The rate hike was the first major move by Fed Chair Kevin Warsh to combat elevated inflation. As PBS NewsHour noted, the war in Iran continues to put pressure on prices.
US President Donald Trump criticized the central bank’s move to raise interest rates, posting on social media that interest rates in the US should be 1% or less. This was reported by Investing.com.
Brief written by urgent.news from CNBC World, PBS NewsHour, Investing.com, Business Insider, The Business Times - Companies & Markets — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- What smart people in business and economics are saying about the Fed interest rate hike businessinsider.com
- Trump demands 1% US interest rate after Fed delivers first hike in three years gulfnews.com
- Trump lashes out at Fed after Warsh backs rate hike; says rates should be '1% or less' channelnewsasia.com
- BOK pressed to further raise key rate to track Fed's latest hike en.yna.co.kr
- Hong Kong follows US Fed with first rate hike in over three years straitstimes.com
- Seoul stocks open higher despite first Fed rate hike in over 3 years koreatimes.co.kr
- Stock futures rise after Fed's rate hike spurs a market sell-off: Live updates cnbc.com
