WATCH LIVE: White House holds press briefing following Fed’s decision to raise interest rates
White House press secretary Karine Jean-Pierre will hold a press briefing to discuss the Federal Reserve’s announcement to increase interest rates by 0.25%. This decision was anticipated after the recent collapse of Silicon Valley Bank.
CME Group’s FedWatch tool had already predicted this move, and most investors are expecting the central bank to increase interest rates further to combat high levels of inflation.
Following the failure of Silicon Valley Bank and the instability of other midsize banks, the Federal Reserve is investigating the California bank.
The press briefing, which will begin at 3 p.m on Wednesday, will shed further light on this issue.
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