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Fed Hikes Rates, Assures Banks Are Safe

The Federal Reserve increased interest rates by a quarter point on Wednesday, firmly in line with market expectations while also affirming that the banking system is “sound and resilient.”

The move represents a careful balancing of risks for the central bank, continuing its fight against inflation while also seeking to assure Americans that their banking system is safe following the recent failures of three banks.

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This post originally appeared at U.S. News & World Report.