Fed Announces Biggest Interest Rate Hike in 28 Years; Bitcoin Falls

Fed Announces Biggest Interest Rate Hike in 28 Years; Bitcoin Falls


“Overall economic activity appears to have picked up after edging down in the first quarter,” the Fed statement reads. “Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures.”

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