Commodities
Gold Edges Higher After Fed Rate Hike
The Federal Reserve raised interest rates as expected, with all 12 members of the Federal Open Market Committee voting in favor.
This decision was made despite concerns about political backlash, but President Biden expressed support for Fed Chairman Kevin Warsh.
Gold prices rose slightly to $4416 per ounce after a three-week losing streak, and the dollar also increased to 99.95.
The market's expectation of higher interest rates may have been priced in ahead of time, but the actual rate hike still had an impact on gold and other markets.