The Fed raised interest rates by another quarter-point on Wednesday, continuing its fight against inflation amid banking turmoil. See potential bias and similarities in coverage from YahooFinance, thehill and FoxBusiness: InterestRates Banks
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 since October 2007. In its statement, the Fed said inflation remains elevated and that the central bank remains"highly attentive to inflation risks," while banking issues could cause...
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Federal Reserve raises its key rate by a quarter-point; calls banking system 'sound and resilient'At the same time, the Fed warned that the financial upheaval stemming from the collapse of two major banks is “likely to result in tighter credit conditions” and “weigh on economic activity, hiring and inflation.”
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Federal Reserve raises its key rate by a quarter-point; calls banking system 'sound and resilient'At the same time, the Fed warned that the financial upheaval stemming from the collapse of two major banks is “likely to result in tighter credit conditions” and “weigh on economic activity, hiring and inflation.”
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Federal Reserve raises interest rates 0.25%, intensifying inflation fight despite banking fearsThe benchmark interest rate is a key cause of the banking crisis but the primary solution for inflation.
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What if every American had the same Federal Reserve perks as banks?In the aftermath of Silicon Valley Bank failing earlier this month, the Federal Reserve announced it was further increasing its support for commercial banks, creating a plan that effectively backstopped all deposits, insured and uninsured, across the U.S. financial system. Banks with accounts with the Fed enjoy a number of perks like higher interest rates and instant transfers not available to average Americans and businesses, but one proposal could change that by creating a 'public banking option,' potentially helping millions of people.
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