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Is Upstart in Trouble After the Fed's Monster Rate Hike?

·4 min read
Is Upstart in Trouble After the Fed's Monster Rate Hike?
In this article:
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The rapidly rising interest rate environment proved to be a huge headwind for the artificial intelligence lender Upstart (NASDAQ: UPST) in the first quarter of 2022. As the Federal Reserve began raising its benchmark overnight lending rate, the federal funds rate, the market -- sensing a newly hawkish Fed -- quickly drove up other short-term rates. This put pressure on loan demand and Upstart's overall business model.