US Federal Reserve has hiked interest rates by 25 basis points | DM Stocks

US Federal Reserve has hiked interest rates by 25 basis points for the ninth time in a row and highest level since 2007. There was fall in the US market sharply after the statement by US Treasury Secretary Janet Yellen. She said that the US government will not take insurance of all depositors guarantee to stabilize the US banking system without working with lawmakers. On the other hand, US Fed rate hike in line with expectation and positive commentary announced by the US Fed chairmen. Jerome Powell, said policy makers had taken into account recent turbulence in the American banking system, including the failure of Silicon Valley Bank. However, he stressed that policymakers had to prioritise tackling inflation. Fed signaled just one more hike interest rate this year while earlier expectation was three or four more rate hike.