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Fed raises key rate quarter point as inflation battle persists
The Federal Reserve lifted its policy rate by a quarter point amid bank turmoil after Silicon Valley Bank and Signature Bank failed, signaling possible further moves if inflation stays high. Powell stressed depositors' funds remain safe while acknowledging tighter credit could slow growth and hiring.
MENTIONED IN THIS ARTICLE
Fed
Washington
Federal Reserve
Jerome Powell
Silicon Valley
U.S
Signature Bank
Powell
Subadra Rajappa
Societe Generale
Biden
Central Bank
Michael Barr
Senate
First Republic
Bank of England
European Central Bank
Europe
ECB
Christine Lagarde
United States