BUSINESS + ECONOMY
The Fed lifts rates by a quarter point as banking turmoil complicates inflation fight
Mar 22, 2023, 12:09 PM
FILE: U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee (FOMC) at the headquarters of the Federal Reserve (Drew Angerer/Getty Images)
(Drew Angerer/Getty Images)
Originally Published: 22 MAR 23 06:37 ET
Updated: 22 MAR 23 14:00 ET
(CNN) — The Federal Reserve raised interest rates by a quarter point on Wednesday as it attempts to fight stubbornly high inflation while addressing risks to financial stability.
Investors and economists had widely anticipated the quarter-point increase — or even a pause — amid the meltdown in the banking sector.
This story is developing and will be updated.
The-CNN-Wire
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