Everything Fed Chair Jerome Powell Discussed at This Weeks Crucial FOMC Meeting
In what was their most vital meeting in some, time the Federal Reserve opted to raise interest rates by another 25 bps. Moreover, as turmoil abounds within the banking sector, and the economy continues its fight against inflation, we break down every thing Fed Chair Jerome Powell discussed at this week’s FOMC Meeting. As the markets cautiously awaited the expected interest rate hikes, all eyes were on what Powell would discuss when he met with the media. Subsequently, his statements would have an undeniable impact on how the economy would respond to the Fed’s decision, and what it means in the short and long-term future. The Banking Sector Source: Forbes As many expected, the first thing Jerome Powell addressed was the concern within the country’s banking industry. Firstly, Powell spoke on the recent developments in the sector and Silicon Valley Bank’s closing marking the largest banking failure since the financial crisis of 2008. Powell stated, “In the past two weeks...
