US Federal Reserve raises interest rates by 25 basis points amid global banking crisis
Image Credit: twitter
The US Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it and signaled it’s not finished hiking, despite the recent turmoil in financial markets spurred by the collapse of two U.S. banks. It also noted that recent stress in the banking sector is likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring, and inflation.