Industry reacts as US Federal Reserve makes first 0.5% interest rate hike since 2000

The US Federal Reserve raised interest rates by 0.5% for the first time since 2000, while sending a strong signal that hikes of the same size would come in future meetings. Yesterday evening, the Federal Open Market Committee implemented its first back-to-back hike since 2006 as it expressed a more aggressive approach to tackling inflation, which hit 8.5% in the US in March, the highest level since 1981. Powell (pictured) also outlined plans to reduce the Fed's balance sheet, beginning with a runoff of $30bn and $17.5bn in Treasuries and mortgage-backed securities respectively in June...