Biggest Interest Rate Hike Since 1994 - 75 Basis Points

In an effort to slow inflation, the Fed raised interest rates by 75 basis points to a range of 1.5 - 1.75%. This is the largest rate hike since 1994 and comes on the same day that GDP growth was lowered and the unemployment rate forecast was raised.

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LINKS: https://finance.yahoo.com/news/fed-fomc-monetary-policy-decision-june-2022-120337242.html?guccounter=1
https://www.reuters.com/world/us/feds-powell-75-basis-point-rate-hike-not-being-actively-considered-2022-05-04/

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Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.