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Rumor Mill News Reading Room, Current Archive

BLOOMBERG: Fed Hikes 75 Basis Points, Powell Says 75 or 50 Likely in July. Stocks rise while the Dollar sinks.

Posted By: NaturalWisdom
Date: Wednesday, 15-Jun-2022 15:19:29
www.rumormill.news/201553

After the (expected) Fed rate hike announcement, the U.S. Dollar Index fell while stocks, and gold, and silver moved higher.

"Get inflation under control" (YEAH, RIGHT)
-NW

Fed Hikes 75 Basis Points, Powell Says 75 or 50 Likely in July
Kansas City’s George dissents; favored half-point raise. FOMC cuts 2022 GDP outlook; raises jobless-rate estimate
By Craig Torres | Bloomberg
June 15, 2022

The Federal Reserve raised interest rates by 75 basis points -- the biggest increase since 1994 -- and Chair Jerome Powell said officials could move by that much again next month or make a smaller half-point increase to get inflation under control.

FULL REPORT



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AN EXPLANATION OF THE FACTIONS