Power Breakfast: Fed Hikes Rate By 25 Bps But Signals Possible Pause In Tightening Cycle
Zee Business Video Team | Updated: May 4, 2023 10:00 am
The US Federal Reserve has increased the interest rates for the 10th time in a row. The Fed has hiked the rates by 25 basis points. This unanimous decision lifted the US central bank's benchmark overnight interest rate to the 5-5.25% range. At the same time, there was a decline in the US for the third consecutive day. The Dow fell 270 points to close at the day's low. Whereas, Nasdaq slipped 0.5%. Starbucks shares fell 9% due to weak results. Today all eyes on the results of Apple.
