The Fed is expected to raise interest rates, despite recent banking turmoil: 'This will be a game-time decision'
Publishing timestamp: 2023-03-22 13:52:42
Summary
The Federal Reserve is expected to announce another interest rate hike, but there is less certainty about what their next move might be. The collapse of Silicon Valley Bank and Signature Bank, as well as the distressed sale of Credit Suisse to UBS, have raised concerns about a potential global banking crisis. While the Fed is likely to raise rates again, there is a possibility of a pause on further rate hikes. The cost of borrowing could keep increasing throughout 2023, driving up the cost of loans, auto financing, and credit card debt.
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