Fast Take
- The Fed’s 25bps hike was anticipated, with a hawkish tone: “Some further coverage firming could also be warranted.”
- That takes the fed funds fee to five.00-5.25% — the best degree for the reason that GFC 2008.
- After Powell spoke, regional banks continued their spectacular collapse, and PacWest greater than halved in prolonged buying and selling when information got here out about strategic choices, together with a sale.
- Throughout this present banking disaster, Bitcoin reclaimed $29,000 — whereas Gold printed a brand new all-time excessive.
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