Fed hikes rates by 50 bps; biggest jump in 22 years

The US Federal Reserve on Wednesday raised its benchmark overnight interest rate by half a percentage point, the biggest jump in 22 years, and said it would begin trimming its bond holdings next month as a further step in the battle to lower inflation.

source https://timesofindia.indiatimes.com/business/international-business/us-federal-reserve-hikes-rates-by-half-percentage-point-starts-balance-sheet-reduction-june-1/articleshow/91325320.cms