In the hours before to night’s announcement, Wall Street was still split over whether the Federal Reserve chaired by Jerome Powell, would move by a more forceful 0.5%.
Deutsche Bank said: “You’d have to go back over 15 years to find such an uncertain situation this close to the decision. A lot of money will be made and lost today.”
Rates are at a 23-year high of 5.25%5.5%, with the Federal Reserve keen to avoid having policy in restrictive territory for too long now that inflation is under control.
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