Fed Hikes 75 Bps Again To Curb Inflation — Bitcoin Magazine

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The Fed­er­al Open Mar­kets Com­mit­tee (FOMC) raised U.S. inter­est rates by 75 basis points on Wednes­day, the third hike in a row of such a size as it wres­tles with stub­born infla­tion levels.

The mar­ket was pric­ing 82% prob­a­bil­i­ty of a 0.75% increase in rates ahead of the release of Fed’s state­ment at 2 p.m. ET, accord­ing to CME’s Fed­Watch tool. The odds of a his­toric 100bps increase, which hasn’t hap­pened since 1981, sat at 18%.

Bit­coin touched $18,704 on Bit­stamp with­in 5 min­utes of the hike’s announce­ment, per Trad­ingView data. The coin then shoot back up to $19,800 in min­utes, but the move­ment did­n’t last as it quick­ly reversed down. Bit­coin was exchang­ing hands below $19,000 at press time.

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