Fresh after the Federal Reserve bumped interest rates higher by 25 basis points on Wednesday, Robinhood Markets Inc (NASDAQ: HOOD), a commission-free trading platform, announced it would increase its Robinhood Gold rate to 4.65% APY on May 4.
The Federal Reserve hiked interest rates by 25 basis points to a range of 5%-5.25%, as widely anticipated by the market, pushing borrowing costs to the highest level since September 2007.
The Federal Reserve raised the fed funds rate by 25 basis points to a range of 5%-5.25% Wednesday, delivering the eleventh hike in the tightening cycle and bringing the cost of borrowing to the highest since August 2007.
U.S. stocks appear poised for a stronger open on Wednesday following the sharp retreat in the previous session. The modest strength has come despite some disappointing earnings reports.
Speculators' bets on Federal Reserve rate cuts in the second half of 2023 have been dwindling lately, as economists predict policymakers to stay in a hawkish-hold mode for longer than expected owing to sticky inflation and diminished r
Trading in the index futures suggests a nervous opening on Tuesday as Federal Reserve Chairman Jerome Powell and his team begin a two-day monetary policy meeting.
On Wednesday, the Federal Open Market Committee (FOMC) will almost definitely raise the Fed funds rate by 25 basis points to 4.75-5%, which might cause some market volatility, particularly for interest-rate sensitive equities.
Goldman Sachs U.S. Economist David Mericle expects the Federal Reserve will raise rates by 25 basis points for one last time in May and keep them sticky high for a long time.