US Fed hikes rates by 75bps: The key takeaways

On the back of rising inflation numbers, US federal reserve has hiked interest rates by 75bps. Here are some key takeaways after today’s much-anticipated decision: – The US Federal Reserve has raised its benchmark rate by 75 basis points — the biggest increase since 1994 — to a range of 1.5%-1.75%. This comes in line … Read more

The Fed is soaking up nearly $1 trillion from market participants awash in cash and desperate for returns | Currency News | Financial and Business News

The Federal Reserve’s daily cash operations approached $1 trillion on Wednesday, as banks and other market participants drowning in cash look for somewhere to park their money. The Fed’s “reverse repo” facility, where financial institutions can deposit cash overnight, took in an all-time high of $992 billion on Wednesday, according to Fed data. Usage shot … Read more