Chairman Powell speaks after Federal Reserve hikes interest rates by 25 basis points — 3/22/23

Federal Reserve Chair Jerome Powell holds a news conference on Wednesday following the Federal Open Market Committee (FOMC) meeting where the central bank enacted a quarter percentage point interest rate increase, expressing caution about the recent banking crisis and indicating that hikes are nearing an end.

Along with its ninth hike since March 2022, the rate-setting Federal Open Market Committee noted that future increases are not assured and will depend largely on incoming data.

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LIVE: Chairman Powell speaks after Federal Reserve hikes interest rates by 25 basis points — 3/22/23