Fed makes first 50bp rate hike in decades

Jerome Powell
Jerome Powell
Photo: US Federal Reserve/Flickr

The US Federal Reserve announced a 50 basis point rate hike today (May 4), its largest single rate increase in over two decades.

Fed chair Jerome Powell struck a hawkish note in the post-meeting press conference. “There is a broad sense that additional 50 basis point increases should be on the table for future meetings,” he said.

The last 50bp rate hike was in May 2000, when Alan Greenspan was chairing the Fed. The previous two Fed chairs, Janet Yellen and Ben Bernanke, both went their entire

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