The fed decides for a 75 bp rate hike. Biggest in decades after last fridays hot CPI print.

Edit: Fed expects to hike 50bps each remaining meeting this year and end the year at 3.4%

https://www.cnbc.com/2022/06/15/fed-hikes-its-benchmark-interest-rate-by-three-quarters-of-a-point-the-biggest-increase-since-1994.html