Fed Raises Interest Rates, Silver Goes Over $25/toz

The Federal Reserve decided to raise interest rates to a 22-year high.

In response, the COMEX silver spot price climbed over $25.00/toz.

From Fox Business:

The Federal Reserve on Wednesday raised its benchmark interest rate by a quarter of a point, resuming its campaign to increase borrowing costs and crush inflation after a brief pause in June.

The unanimous decision puts the key benchmark federal funds rate at a range of 5.25% to 5.5%, the highest since 2001, further restricting economic activity as the borrowing costs for homes, cars and other items march higher.

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