Fed Likely to Raise Rates by 50 Basis Points in December; Bitcoin Jumps

WASHINGTON D.C. – In its eighth and final meeting of 2022, the Federal Reserve will likely raise interest rates by another 50 basis points, or 0.5 percentage point, Fed Chair Jerome Powell implied Wednesday. The previous four Fed rate hikes were for 75 basis points, or 0.75 percentage point.

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