The FOMC voted to increase the Fed funds target rate by 0.25%. This rate hike takes interests to a target range of 5.00%- 5.25%, the highest since August 2007. This is the 10th increase since March 2022. This hike is an indication the Fed is still serious about cooling the economy and probably not done yet despite the banking crisis. The Fed is keeping all options open. An additional rate hike of 0.25% on June 14 is still a possibility.
Sven Franssen