The Fed Backtracks On Future Rate Hikes As Bank Failures Loom Large – OpEd

By Ryan McMaken*

The Federal Reserve’s Federal Open Market Committee (FOMC) on Wednesday raised the target policy interest rate (the federal funds rate) to 5.00 percent, an increase of 25 basis points. With this latest increase, the target has increased 4.75 percent since February 2022.

However, with an increase of only...