Fed opts for hike-and-see in gamble that crisis will stay contained
Less than two weeks after the second-biggest bank failure in US history, Federal Reserve Chair Jerome Powell made clear that inflation remains policymakers’ top concern.
By Craig Torres / Bloomberg
The Fed chief advised that more Fed tightening may be in store after Wednesday’s interest-rate hike, and that the central bank will raise rates higher than expected if needed. In a press briefing, he also said officials don’t expect to be cutting rates this year — even as the bond market showed traders doubling down on that outcome.
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