Politics

Morning Report 5 May 22: US stocks surge as Fed rules out 75bps rate hikes


The US sharemarket rose by 3% following the Federal Reserve ruling out 75bps rate hikes in coming months. The US central bank did raise rates by 50bps this morning however, its largest hike since 2000 due to surging inflation. While a significant move higher, this was widely expected by markets.

The US sharemarket rose by 3% following the Federal Reserve ruling out 75bps rate hikes in coming months. The US central bank did raise rates by 50bps this morning however, its largest hike since 2000 due to surging inflation. While a significant move higher, this was widely expected by markets.

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