Happy Friday eve, readers. Phil Rosen here. Surprising no one, the Fed raised interest rates by 25 basis points yesterday.
That puts the Fed Funds Rate above 5% for the first time since 2007. Remember, the higher that goes, the more expensive it becomes for consumers and businesses to borrow.
The move marked the 10th consecutive hike, but the Fed nodded to the possibility that it was the last one of this cycle — more on that here.
As for today, we're bringing you on the ground reporting from one of the top investing conferences in the world.