- by foxnews
- 15 Nov 2024
US Federal Reserve raises interest rates a quarter-point amid banking turmoil
US Federal Reserve raises interest rates a quarter-point amid banking turmoil
- by theguardian
- 23 Mar 2023
- in news
1.5 k views
Facing the worst banking crisis since 2008 and the highest inflation rate in a generation, the Federal Reserve chose to keep fighting price rises and announced another hike in interest rates.
The latest increase was smaller than the half-point increase that some had expected before a series of bank collapses shook global markets.
Fed chair Jerome Powell said the Fed had considered pausing rates in the days running up to the decision but had concluded that the banking crisis was under control and that more rate rises were needed to bring down inflation.
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