Fed Chair Powell hints at easing rate hikes amidst banking turmoil and inflation concerns.
TL;DR Summary
Federal Reserve Chairman Jerome Powell said the central bank may not need to hike interest rates as aggressively as it previously planned in its ongoing fight against inflation after the regional banking crisis made it more difficult to access credit. Powell acknowledged that the disruption to the financial sector from a series of bank runs in recent months could impact the central bank's policy decisions. Mid-sized banks are struggling, in part, from higher interest rates, as the Fed carries out its most aggressive tightening campaign since the 1980s.
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