The Fed raised rates 25 basis points to 3.75%-4.00%, unanimously, and penciled in another hike to roughly 4.1% by year-end. The Atlanta Fed's GDPNow nowcast jumped to 5.1% even as housing starts and homebuilder sentiment kept sliding.
Fed Chair Kevin Warsh, after a unanimous 25bp hike, left little room to treat the move as a one-off, saying inflation has been too high for too long. Source
