The benchmark interest rate is a key cause of the banking crisis but the primary solution for inflation.
Over the last year, the Federal Reserve raised its benchmark interest rate by 4.5%, the fastest pace since the 1980s.
Over the last year, the Federal Reserve raised its benchmark interest rate by 4.5%, the fastest pace since the 1980s. The Fed has put forward a string of borrowing cost increases as it tries to slash price hikes by slowing the economy and choking off demand. The approach, however, risks tipping the U.S. economy into a recession and putting millions out of work.
"No matter what the Fed does later this month, financial conditions are tightening," Julia Pollak, chief economist at Zip Recruiter,
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