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Mar 22 2023
Fed raises interest rates a quarter point despite recent banking turmoil
The Federal Reserve on Wednesday raised its benchmark interest rate by a quarter of a point, forging ahead with its fight against stubborn inflation despite a spate of bank failures and a growing crisis within the financial sector.
The unanimous decision puts the key benchmark federal funds rate at a range of 4.75% to 5%, the highest since 2007, from near zero just one year ago. ItFox Business
Mar 22 2023
Fed threads the needle on inflation vs. banking volatility, bumps interest rate .25%
The U.S. Federal Reserve Board entered its meeting this week to consider further adjustments to its benchmark lending rate facing a harsh fiscal double bind. Continue its streak of interest rate hikes to battle ongoing U.S. inflation or ease up on the gas in an attempt to calm banking sector volatility that has been driven, at least in part, by escalating interest rates? As was widely expectedDeseret News
Mar 07 2023
Fed may need more aggressive interest rate hikes, Powell says
Cooling in the economy appears to have “partly reversed” based on recent data on jobs, consumer spending, production and inflation, Federal Reserve Chair Jerome H. Powell told Congress on Tuesday, suggesting the central bank could keep raising interest rates more aggressively than expected just a few months ago.
“The latest economic data have come in stronger than expected, whichWashington Post
Mar 22 2023
Federal Reserve raises interest rates 0.25% to highest since 2007 amid bank crisis
The Federal Reserve raised the target range for its benchmark interest rate by 0.25% on Wednesday as it battles stubborn inflation and a banking crisis which has pushed the central bank into taking its most significant emergency actions since the onset of the pandemic.
The rate hike brings the Fed's policy rate, the federal funds rate, to a new range of 4.75%-5%, the highest sinceYahoo News
Mar 22 2023
Amid banking uncertainty, Federal Reserve set to announce pivotal interest rate decision - The Boston Globe
For some critics of the rate hike effort over the past year, the collapse of the banks adds to their fears that the Fed’s push could destabilize the broader economy. Fed monetary policymakers have had to weigh continuing their aggressive fight on still-high inflation against concerns about the stability of US banks, whose finances have been rocked by those fast-rising interest rates over theThe Boston Globe
Mar 08 2023
Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated
Federal Reserve Chairman Jerome Powell on Tuesday cautioned that interest rates are likely to head higher than central bank policymakers had expected.
Citing data earlier this year showing that inflation has reversed the deceleration it showed in late 2022, the central bank leader warned of tighter monetary policy ahead to slow a growing economy.
“The latest economic data haveCNBC
Feb 01 2023
Fed expected to raise interest rate amid recession fears
The Federal Reserve is set to announce on Wednesday whether it will impose another interest rate hike, the central bank's latest move in a monthslong fight that has eased inflation but risks plunging the U.S. into a recession.
The Fed has put forward a string of borrowing cost increases as it tries to slash price hikes by slowing the economy and choking off demand. The approach, howeverABC News (Online)
Jan 26 2023
Economy grew 2.1% in 2022 amid barrage of interest rate hikes
The economy grew 2.1% in 2022, the Bureau of Economic Analysis reported Thursday, a year marked first by recession fears and then by the largest burst of inflation in decades, which prompted a frantic campaign by the Federal Reserve to ease price pressures through interest rate hikes.
The numbers, adjusted for inflation, were driven by gross domestic product growth in second half of theWashington Examiner
Feb 01 2023
Fed raises interest rates by a quarter point but signals inflation fight's not over
The Federal Reserve on Wednesday raised its benchmark interest rate by a quarter of a point, further slowing its aggressive campaign to cool the economy amid growing evidence that stubbornly high inflation is finally starting to ease.
The widely expected move puts the key benchmark federal funds rate at a range of 4.5% to 4.75%, the highest since 2007, from near zero in March 2022. ItFox Business
Jan 30 2023
The Federal Reserve is likely to hike interest rates again. What that means for you
The Federal Reserve is widely expected to announce its eighth consecutive rate hike at this week’s policy meeting.
This time, Fed officials likely will approve a 0.25 percentage point increase as inflation starts to ease, a more modest pace compared with earlier super-size moves in 2022.
Still, any boost in the benchmark rate means borrowers will pay even more interest on creditCNBC