The Fed just brought in its final interest-rate hike, billionaire bond investor Jeff Gundlach says
Wednesday at the conclusion of its May meeting.
In its communique this week, the central bank scrapped its previous guidance that"some additional policy firming may be appropriate" to tame inflation – and its chair Jerome Powell called the change in language"meaningful" at a post-decision press conference. Silicon Valley Bank collapsed in March after the Fed's aggressive rate hikes led to massive losses on its bond portfolio – and customers have responded to its failure by yanking their deposits from other similar-sized lenders.
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