Federal Reserve hikes key interest rate despite US bank chaos

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Federal Reserve hikes key interest rate despite US bank chaos
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The Fed faces the challenge of lowering inflation amidst US banking sector crisis.

REUTERS

Another interest rate hike in March was considered a foregone conclusion earlier this month after a series of hotter-than-expected economic reports.raise rates higher than previously expectedWhile interest rate hikes are the Fed’s key inflation-fighting tool, they also increase pressure on businesses by making interest payments and forms of borrowing more expensive.

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