Bitcoin Up as Fed Announces 0.75 Points Rates Hike

Key Takeaways

  • The Federal Reserve is hiking interest rates by another 75 basis points.
  • The rate hike comes after the Consumer Price Index revealed that inflation had hit a 40-year high of 9.1% in June.
  • The Fed’s repeated rate hikes are prompting concerns that the country may be heading into a recession.

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