What the Fed’s Rate Hike Means for Inflation, Housing, Crypto and Stocks

(Bloomberg) – America’s central bank increased its benchmark interest rate on Wednesday, pushing it up by a quarter percentage point. The hike – the first since 2018 – was widely expected. But at a time when Russia’s war in Ukraine has roiled global markets, US inflation is at its highest level since the 1980s and Covid-19 cases are increasing in some parts of the world, consumers and investors are contending with the prospect of …

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