The Fed Is Hiking Interest Rates. Should That Change Your Investment Strategy?
The Federal Reserve just approved its biggest interest hike rate since 2000.
On Wednesday, the Federal Open Market Committee — the Fed’s monetary policymaking body — announced it would be raising its benchmark interest rate by a half percentage point as it fights soaring inflation. The central bank also outlined a plan to reduce its massive balance sheet.
The Fed kept interest rates near zero throughout the COVID-19 pandemic before raising the rate by a quarter percentage point in March amid soaring prices for everything from groceries to cars.
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