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Federal Reserve Chair Jerome Powell testifies before the Senate Banking Committee March 7, 2023 in Washington, DC.

Fed, Focusing on Inflation, Hikes Interest Rate Again Despite Banking Turmoil

The financial fallout from the collapse of Silicon Valley Bank wasn’t enough to interrupt the Fed’s campaign of anti-inflation interest rate hikes.

By Diccon Hyatt

General view of Pacific Western Bank in Century City on March 17, 2023 in Century City, California.

PacWest Bancorp Lost 20% of Customer Deposits, Raises $1.4 Billion Cash

The bank says it has more available cash than uninsured deposits.

By Kevin George

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SEC Sues Tron Founder, Lindsay Lohan and Other Celebrities Over Crypto Promotion

Table showing the performance of major U.S. financial indexes on March 22, 2023

Markets Dip as Fed Raises Rates Despite Banking Concerns

A woman works at the Buenos Aires Central Market on March 16, 2023 in Buenos Aires Province, Argentina. Official inflation rate hits 102.5% in the last twelve months and it is the worst register since 1991. Inflation, along with corruption and poverty, is one of the main concerns of the Argentinians who will be heading to polls in October to vote for president.

Think Inflation Is Bad in the US? See What Other Countries are Dealing With

Updated Mar 22, 2023

Someone looks at a ticker on computers and uses a stylus on a graph on a tablet.

As Fed Pushed Up Rates in the Past 12 Months, the S&P 500 Sank

Updated Mar 22, 2023

Federal Reserve Chair Jerome Powell testifies before the Senate Banking Committee March 7, 2023 in Washington, DC. Powell spoke on the state of the U.S. economy and suggested that interest rates will need to stay higher for longer than expected in order to curb inflation.

Fed, Focusing on Inflation, Hikes Interest Rate Again Despite Banking Turmoil

Updated Mar 22, 2023

Pacific Western Bank PacWest Bancorp

PacWest Bancorp Lost 20% of Customer Deposits, Raises $1.4 Billion Cash

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Brian Armstrong, cofounder and CEO of Coinbase speaks onstage during 'Tales from the Crypto: What the Currency of the Future Means for You' at Vanity Fair's 6th Annual New Establishment Summit at Wallis Annenberg Center for the Performing Arts on October 23, 2019 in Beverly Hills, California.

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