Interest Takes A Hike
What A Day
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The Fed Approves Another Quarter Percentage Increase to the Interest Rate
Trump's legal team is appealing this latest court ruling, but that process will continue without holding up Corcoran's testimony before the federal grand jury. The Fed approved another quarter percentage point increase to the interest rate, bringing the benchmark value to a range between 4.75 and 5%. That is the highest level it's been since September 2007. This current rate hike is the ninth straight one. But before the hikes, Silicon Valley Bank invested some of the billions it had into U.S. government bonds. In addition to the funds in those bonds being locked up for say 10 years in some cases, as interest rates have been increasing, the market value of Silicon Valley Bank's bonds went down
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