News Explorer — Crypto and Stocks Mixed After Fed Raises Rates by 25 Basis Points

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Crypto and Stocks Mixed After Fed Raises Rates by 25 Basis Points

The Federal Reserve raised interest rates to a target range of 4.75% to 5%, despite two of the largest bank failures in U.S. history in the past two weeks. Cryptocurrency prices initially rose after the announcement, but the Fed has taken measures to prevent further turmoil among banks. The Fed began raising interest rates a year ago, and since then, it has yanked rates aggressively to their highest levels since 2007.