Steve Forbes says the Fed's stubborn rate hikes are trashing the US economy
"The Federal Reserve continues its policy, trying to trash the economy. They're pursuing policies that will make the economy worse," the editor-in-chief of Forbes Magazine told"You got not only banks that are shaky. I don't think there will be too many more, but countries are in trouble. You've got companies in trouble," Forbes added.
The decision came after weeks of uncertainty about how the Fed might respond to the recent banking turmoil, which saw the implosions of Silicon Valley Bank and Signature Bank in the US, and the government-backed takeover of Swiss banking giant Credit Suisse by UBS in Switzerland.
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