Breaking: Fed hikes policy rate by 75 bps to 3.75-4% as expected

The US Federal Reserve on Wednesday announced that it raised the policy rate, federal funds rate, by 75 bps to the range of 3.75-4% following the November’s two-day monetary policy meeting. This decision came in line with the market expectation.

This is the fourth Fed’s interest rate hike in a streak. Now, financial markets will wait to see whether the Fed would maintain its hawkish stance for December FOMC meeting as well or could turn dovish to avoid economic slowdown and a recession.