The Federal Reserve is slated to raise interest rates for the 10th time in just over a year, as officials continue their fight against inflation amid growing fears of a recession.
Complicating the Fed’s decision are the ongoing repercussions from this spring’s banking crisis. Fed officials have said the fallout from the failures of Silicon Valley Bank and Signature Bank will slow the economy. Tremorsto loan money, curbing demand in a way that mimics an interest rate hike. But policymakers will need to debate — and then explain to the public — just how significant that broader slowdown will be.
Dynan added that while the bank tumult isn’t expected to alter the Fed’s quarter-point rate hike, “the interesting thing is what they’re going to signal about the future, whether they’re going to change their rhetoric.”The Fed’s interest rate decision will be announced at 2 p.m. Eastern time. Half an hour later, Fed Chair Jerome H.
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