Traders were still largely betting the Fed will cut rates later this year.
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Federal Reserve raises key rate by a quarter-point despite bank turmoil
The Fed says the U.S. banking system is ‘sound and resilient,’ but warns that the financial upheaval stemming from the collapse of 2 major banks is ‘likely to result in tighter credit conditions’ and ‘weigh on economic activity, hiring and inflation.’
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Stocks rise on Wall Street after big bank deal, moves by regulators
In the U.S., most of the attention has been on smaller and mid-sized banks on fears that falling trust could push their depositors to pull their money all at once.
Posted inBusiness
Stocks rally after battered First Republic gets a lifeline
This week has been a whirlwind for markets globally on worries that banks may be bending under the weight of the fastest set of hikes to interest rates in decades.
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Stocks tumble on Wall Street on renewed fears about banks
The heaviest losses are focused on smaller and midsize banks, which are seen as more at risk of having customers try to pull their money out en masse.
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Bank stocks tumble while others rise on hopes for easier interest rates
The most pressure is on the regional banks a couple steps below in size of the massive, ‘too-big-to-fail’ banks that helped take down the economy in 2007 and 2008.
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Stocks tumble as Wall Street wonders what will break next
The S&P 500 drops 1.4% to cap its worst week since September.
Posted inBusiness
Deepening worries about high rates send Wall Street lower
The Fed’s inflation-fighting policies risk slowing the economy too much and pushing it into a recession.
Posted inBusiness, Nation & World, News
Fed chairman Powell signals increased rate hikes if economy stays strong
The Federal Reserve chair acknowledged that inflation ‘has been moderating in recent months’ but added that ‘the process of getting inflation back down to 2% has a long way to go and is likely to be bumpy.’
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Stocks slide as strong data suggests Fed has more to do
Investors are also weighing several international developments that could further unsettle a global economy that is already getting burned by stubbornly hot inflation.