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The Fed has just confirmed a 75 basis point (0.75%) rise in interest rates – the highest increase since 1994. Announced in the still-looming shadow of a bleak May CPI report, this is an aggressive move by the Fed in the ongoing fight against high inflation.
In the weeks leading up to this meeting, signals from the Fed had pointed to a 0.50% rise, and markets have been responding to this expectation. While 50 basis points is still notable, the signaling of ratcheting up rates even faster with a 75 basis point move is intended to establish credibility with
