Federal Reserve Hikes Rates by 25 Basis Points

As recently as two weeks ago, interest rate traders were evenly split on whether the Fed would raise rates by 25 or 50 basis points. Struggles within the banking system since – including the failure of a number of lenders – had traders today roughly evenly split on whether the Fed would raise by 25 basis points or stand pat, with some participants even expecting a surprise rate cut from the central bank.