Fed hikes rates despite concerns over banking crisis
Banking And Finance,Federal Reserve,Interest Rates,Economy And Jobs,Inflation,Recession,Silicon Valley Bank,Credit Suisse,Signature Bank,Jerome Powell,Unemployment,GDP,Business
From the Center
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The Federal Reserve hiked interest rates by 0.25 percentage points on Wednesday after numerous failures in the banking sector had prompted some analysts on Wall Street to call for a pause.
The quarter-point hike is the ninth consecutive rate increase by the Fed since March of last year as part of the U.S. central bankβs program of quantitative tightening undertaken in response to high inflation. The Fedβs baseline interest rate range is now set to 4.75 to 5 percent.
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