The Fed raised interest rates by 25 basis points

The Federal Reserve raised its benchmark interest rate by 25 basis points to a range of 4.75%-5.00%. This is the ninth consecutive rate hike by the Federal Reserve since March last year, and the second consecutive rate hike has slowed to 25 basis points. The Federal Reserve FOMC statement claimed that the US banking industry is sound and resilient, but some events will drag down economic growth. The Federal Reserve will continue to reduce its holdings of Treasury bonds and mortgage-backed securities at the same pace, and further tightening of policy may be appropriate. The market expects that the US interest rate hike cycle is nearing the end, and interest rates may be reduced to 4.25%-4.5% before the end of this year to cope with the economic slowdown.