Chapter 478
[US Fed Raises Benchmark Interest Rate by 0.75 Percent!]
[Fed Leans Towards Additional Rate Hikes]
[McClay Shock! How Far Will the Impact Go?]
[What Does the December Benchmark Rate Hike Mean?]
[Emerging Market Stocks: Santa Rally Now Hard to Expect]
[US Treasury Department Appears Flustered by Unexpected Hike]
[The White House's Reaction?]
The shock of the US benchmark interest rate hike swept across the globe. The size of the increase was a problem, but many also assessed the timing as the worst possible.
Everything about a company is shown through its accounting. Profit and loss are determined by the exchange rate on the closing date. Therefore, it was an open secret that central banks around the world finely adjusted their exchange rates at the end of the year.