The Federal Reserve raised the Fed funds rate by 25 basis points on Wednesday. Chairman Jerome Powell said the banking turmoil might trigger a credit crunch moving forward, but the Fed needs to stay focused on inflation and more rate hikes could occur in the future. In this episode of Morning Wire, we break down the rate hike, the banking crisis, and what it means to the American consumer.
In this episode of Morning Wire, we break down the Federal Reserve’s decision to hike the funds rate, the causes of the current banking crisis and what it all means to the American consumer. Get the facts first on Morning Wire.
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