Sanyatti
Member
Inflation
The Federal Reserve announced its 10th-straight interest rate hike on Wednesday as it aggressively attempts to lower inflation. The Fed raised its benchmark rate by another quarter of a point and hinted a pause could come as soon as next month. Fed Chair Jerome Powell emphasized that US banking conditions have improved since early March when the country saw some of the biggest bank failures since 2008. But the Fed expects that as a result of the banking system turmoil, credit will continue to tighten for households and businesses, which would slow the economy.
The Federal Reserve announced its 10th-straight interest rate hike on Wednesday as it aggressively attempts to lower inflation. The Fed raised its benchmark rate by another quarter of a point and hinted a pause could come as soon as next month. Fed Chair Jerome Powell emphasized that US banking conditions have improved since early March when the country saw some of the biggest bank failures since 2008. But the Fed expects that as a result of the banking system turmoil, credit will continue to tighten for households and businesses, which would slow the economy.