The Federal Reserve has a lot of balls in the air.
This week, we’ll hear from Fed officials for the first time since the collapse of Silicon Valley Bank and Signature Bank, the sale of Credit Suisse and the lifeline extended to First Republic. The big question is what they’ll do next. A policy rate announcement is expected on Wednesday along with new economic projections, and Federal Reserve Chair Jerome Powell will face the press to answer questions.
“Addressing stress in the banking system is the most immediate concern and must take priority over other less urgent goals for the moment.” At the same time, inflation remains well above the central bank’s goal of 2%, economic data continues to show labor market strength and consumer spending resilience, and Fed officials have signaled their intent to tighten monetary policy aggressively until price hikes ease.
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