Fed Interest Rate Decision: Banking Turbulence Looms

The Federal Reserve is set to announce its decision on interest rates today, with economists divided on whether it will raise rates amid concerns over the banking industry following the collapse of Silicon Valley Bank and Signature Bank. While some have called for the Fed to stop hiking rates over fears of a recession, others argue that it risks losing the fight against inflation if it doesn't raise rates. The consensus is that the Fed will hike rates by 0.25%, with an 86% chance of that happening, according to the Chicago Mercantile Exchange's FedWatch Tool.