The Federal Reserve raised interest rates for the ninth consecutive time on Wednesday.
Powell's been raising interest rates for a year in the hopes of fighting inflation. He was originally expected to hike rates by 50 basis points after sounding the alarm on the rising cost of living just last month. However, the sharp rate rises of the past year were partially to blame for the collapse of Silicon Valley Bank , and there were concerns that another rate hike could further harm banks holding long-dated Treasury bonds that had sunk in value as rates soared.
Jean-Pierre touted Biden for building a strong economy with a jobs report that showed 300,000 new jobs last month.However, other members of the Democrat party disagree. Senator
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Here's everything the Federal Reserve is expected to do WednesdayThe Fed will close its two-day meeting Wednesday with a heavy air of uncertainty.
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Live Fed updates: Federal Reserve will announce key rate decision Wednesday afternoonThe Federal Reserve will announce its decision on interest rates Wednesday afternoon. Markets anticipate the central bank will enact a 25 basis point rate hike.
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Fed hikes rates by a quarter percentage point, indicates increases are near an endThe Federal Reserve on Wednesday released its decision on interest rates following a two-day meeting.
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Housing Market: Mortgage Rates Sink To 5-Week Low Amid Bank HavocThere may not be much time to rejoice if the Federal Reserve increases interest rates Wednesday.
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Federal Reserve hikes rates despite fallout from SVB collapseThe Federal Reserve announced an interest rate hike, even as fears abound over the stability of the financial system in the wake of the collapse of Silicon Valley Bank.
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