Feds Hike Interest Rate by Three-Quarters of a Percentage Point

The U.S. Federal Reserve delivered an interest rate hike of 75 basis point on July 27. 2022, lifting the benchmark interest rate to between 2.25% and 2.5%.

The move cam Less than a week after, the European Central Bank shocked investors as it raised interest rates for the first time in 11 years, delivering a larger-than-expected rate hike of 50 basis points.

Major stock indexes were up, including the S&P 500 (2.98%) and the tech-heavy Nasdaq (4.42%), along with the Dow Jones Industrial Average (1.69%), 


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