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Federal Reserve Raises Rates, Biggest Hike In 20 Years

The U.S. Federal Reserve (Fed) has raised rates of interest by 50 foundation factors in its largest hike since 2000.

Bitcoin briefly touched $40,000 after the Fed launched its new financial coverage pointers.

Bitcoin touches $40,000 as Fed raises interest rates

Image supply: TradingView.

The central financial institution’s Federal Open Markets Committee (FOMC) mentioned in a Wednesday statement that the choice was made to help its objectives of attaining most employment and curbing inflation charges to 2% over the longer run.

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