- The U.S. Federal Reserve introduced another jumbo rate hike on Wednesday, Nov. 2, 2022, by hiking the federal funds rate (FFR) by 75 basis points (bps).
- During Jerome Powell’s follow-up speech, he still insisted that rate hikes and monetary tightening were and still are needed to address the country’s red-hot inflation.
- Following Powell’s news conference with reporters, stocks, precious metals, and bitcoin started to lose the gains they saw an hour after the FOMC statement was released.
The Fed Codifies Fourth Consecutive 75bps Rate Hike — Stocks, Bitcoin, and Metals Rise
