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The Federal Reserve lifted its benchmark interest rate to a 3.75% to 4% range in a unanimous vote on Wednesday, marking the first hike since July 2023. The move implies higher borrowing costs while boosting yields on cash and short-term fixed-income holdings.
US Fed Fund Futures extend decline, implying a 76% chance of a September rate hike
US Fed Fund Futures extend decline, implying a 76% chance of a September rate hike