'No big surprises' as Fed makes fourth 0.75% hike

Sixth hike this year

The Federal Reserve hiked interest rates by 0.75% for the fourth time in a row yesterday (2 November), in a move that had been largely expected by investors.

The Fed has now raised rates six times this year, pushing interest rates up to 3.75% to 4%. Yesterday's decision was unanimous by the Fed committee. Chair Jay Powell warned at a press conference that the central bank had "some ways to go" to tame persistently high inflation, noting that it had been falling far too slowly. However, he also hinted that the central bank may pivot to a less aggressive tightening regime following the next meeting in December, stating: "That time is coming, and it may come as soon as the next meeting, or the one after that." Volatility gripped the US mar...