The Federal Reserve moves borrowing costs higher as it focuses on efforts to stabilise prices.

The US central bank has raised interest rates again, despite fears that the move could add to financial turmoil after a string of bank failures.

The Federal Reserve increased its key rate by 0.25 percentage points, calling the banking system "sound and resilient".

But it also warned that fallout from the bank failures may hurt economic growth in the months ahead.

  • GrumpigPoopBalls [he/him]
    ·
    2 years ago

    sound and resilient

    "the fundamentals of our economy are strong" - John McCain, September 15, 2008