Dollar towering, stocks cowering as Fed hikes higher

The Fed raised rates sharply, by 75 basis points, on Wednesday - the third such rise in a row. That takes the bank's benchmark overnight rate target range to 3-3.25%.Projections showed officials think rates are going higher and growth is going lower and the median forecast is for the funds rate to hit 4.4% this year - higher than markets had priced and 100 bps more than the Fed projected three months ago.

The U.S. yield curve deepened its inversion in a volatile session overnight as short-end Treasuries sold and the longer end rallied as investors priced out the chance of a "soft" economic landing, and braced for damage to longer-run growth. Japan has this week driven home its commitment to ultra-dovish policy by spending more than 2 trillion yen in the past two days to hold a 0.25% ceiling on the 10-year Japanese government bond yield.

❤️Maybe it’s better to control inflation and keep strong dollar than to raise stocks❣️

Imagine thinking anything other than a United States Dollar has any value whatsoever

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