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The Federal Reserve raised interest rates by 75 basis points on Wednesday. Chair Powell made it clear the Fed will remain tough on inflation, even if it means economic pain. The FT has got a scoop on a potential big shake-up at Credit Suisse. Plus, we'll find out what companies do when they're hit by a ransomware attack.

The Federal Reserve raised its benchmark interest rate by 0.75 percentage points for the third time in a row on Wednesday, and Credit Suisse has drawn up plans to split its investment bank in three. Plus, the FT’s Hannah Murphy explains how companies, and the negotiators they hire, deal with a ransomware attack.

Mentioned in this podcast:

Jay Powell refuses to rule out US recession after third 0.75% rate rise

The ransomware game: test your skills in the world of hackers and negotiators

Credit Suisse considers splitting investment bank in three

FT.com/briefingsale

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by 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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