"Banks Fail as Recession Concerns Grow with Fed's 10th Interest Rate Hike: A Description of Failure"
WASHINGTON, D.C. – Interest rates went up a quarter point on Wednesday, but the Federal Reserve is signaling going forward they may pause rate hikes after their streak of 10 in a row. "Our future policy actions will depend on how events unfold," declared Federal Reserve Chairman Jerome Powell. The Fed hopes their string of rate hikes will help bring down inflation, but now they'll step back and assess if it's time to pause the rate hikes amid growing concerns. Powell said they'll be monitoring factors like the recent bank failures to see if it's time to cool the rate hikes, but he expressed confidence in the system. Download the free CBN News App: SUBSCRIBE to the CBN News Channel for more: SUBSCRIBE to the QuickStart Newsletter by visiting quickstart.news SUBSCRIBE to the Quickstart Podcast. New episodes every morning at 7am: cbn.com/cbnnews/quickstart What's coming up next? Have a look at our program guide: CBN features 24-hour TV ...