The Fed's Decision to Increase Interest Rates Despite Bankruptcy

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The Fed has raised interest rates for the first time in nearly a year. The decision was made despite instability in the banking sector. Mark Whitaker says it's one of the fastest tightening cycles we've seen in decades. He asks: Is more restraint necessary and could the Fed pause?

The US Federal Reserve raised its benchmark interest rate by a quarter of a percentage point, Russia accused Ukraine of attempting to assassinate President Vladimir Putin in a late-night drone attack on the Kremlin, and local elections in the UK are a major test for the largest two parties as they prepare for a general election next year.

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Katie McMurran, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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