FOMC Hikes By +75 bp

2:34 p.m. ET The Fed raised rates by +75 bp to a target range of 1.5% to 1.75%. This is the largest rate hike since 1994. *KANSAS CITY FED’S GEORGE DISSENTS IN FAVOR OF 50 BPS RATE HIKE The knee-jerking is on across multiple assets. The major averages jostled around in the last half hour….