Forex
Fed Rate Hike Triggers Market Recovery
US financial markets are showing signs of recovery after the Federal Reserve implemented its first interest rate hike in three years.
The quarter-point increase brings the Fed's key rate to a target range of 3.75-4.00%, aiming to control stubbornly high inflation.
Experts warn that this move could lead to higher borrowing costs for mortgages, auto loans, and credit cards.
In its quarterly projections, the Fed signaled a possible second rate hike to 4.1%.