Fed’s Latest (and Greatest) Rate Hike Sure to Cause More Pain
The Federal Reserve Board of Governors unanimously voted to increase the interest rate paid on reserve balances by 0.75% to a range of 1.5% to 1.75%, effective June 16, 2022. It is the largest increase by the Fed since 1994.
Over the past several months our blogs and articles have predicted that an interest rate increase was looming. When the Fed raised the interest by 0.5% in May of this year,
