Media scan as of 9:48 pm 21 September 2022: The Federal Reserve meets rate hike expectations…

Federal Reserve System. Federal funds rate. “The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 3 to 3-1/4 percent and anticipates that ongoing increases in the target range will be appropriate. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in the Plans for Reducing the Size of the Federal Reserve’s Balance Sheet that were issued in May. The Committee is strongly committed to returning inflation to its 2 percent objective.” — Board of Governors of the Federal Reserve System.

DXY. Dollar. The U.S. Dollar Index (DXY) at 2:00 pm EDT was at 111.41. As of 10:25 pm, the DXY had climbed to 111.66. — MarketWatch.

Investopedia defines the DXY as a measure of the value of the U.S. dollar relative to a basket of foreign currencies.

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Rates of Interest (as of 21 September 2022).

Federal Funds Rate Target Range: 3-3.25%

Effective Federal Funds Rate: 2.33%

Bank Prime Loan: 5.50%

Treasury 2-year: 3.96%

Treasury 10-year: 3.57%

Interest Paid on Reserves: 2.40%

Source: Board of Governors of the Federal Reserve System