Federal Reserve bows to bank-crisis fears with quarter-point rate hike, letting up a little in its fight against inflation
- Written by Jeffery S. Bredthauer, Associate Professor Of Finance, Banking and Real Estate,, University of Nebraska Omaha
Fed chair Jerome Powell opted for a cautious approach on rates.Alex Wong/Getty ImagesThe Federal Reserve raised interest rates by a quarter-point on March 22, 2023, bowing to market expectations that it would temper its aggressive program of rate hikes amid a still-brewing banking crisis.
The U.S. central bank lifted rates to a range of 4.75% to...