The Fed announced its May 2023 interest rate decision.
According to the announced decision, the US Federal Reserve (Fed) increased interest rates by 25 basis points to 5.25, as expected. The increase in interest rates to 5 last month caused some crises in the USA.
Fed Did What Was Expected
The US Federal Reserve (Fed) announced its interest rate decision for May. The Fed made the decision that the markets expected and increased interest rates by 25 basis points. However, interest rates in the USA rose to 5.25 points. The Fed’s decision was announced by Chairman Jerome Powell.
Fed Chairman Jerome Powell shared his interest rate decision in a statement today. However, interest rates in the USA rose to 5.25 basis points.
After the banking crisis experienced last month, the Fed’s interest rate policy was criticized. The banking crisis in the USA first started with the bankruptcies of Silicon Valley Bank and Signature Bank. Then the crisis deepened and spread to First Republic Bank. Following these developments, the Fed’s interest rate policy was subjected to considerable criticism.
JPMorgan has announced that it will acquire First Republic Bank, the last bank involved in the crisis. However, although the markets have relaxed a little, commentators and analysts think that the banking crisis will deepen.
