TL;DR
The US Federal Reserve (Fed) raised its benchmark interest rate by another 0.75 percentage points to 3.0-3.25% as expected.Notably, the Fed is projecting that interest rates will be higher for longer. Interest rates are expected to peak at 4.6% in 2023, and are not expected to start falling until 2024. With the aggressive interest rate hikes, the risks of a global recession are higher and the US Dollar has strengthened against most currencies. We’d be putting our spare cash into the Singapore Treasury Bill or Singapore Savings Bonds with rising interest rates. It might also be time to think about whether you’re getting the best mortgage, deposit account and currency exchange deals.What happened?
The US Federal Reserve (Fed) raised its benchmark interest rate by 0.75 percentage point (75 basis points) to a range of 3.0-3.25%.
The hike should not be a surprise to investors, especially after last week’s red-hot
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