The Federal Reserve raised interest rates for the ninth consecutive time on Wednesday.
Powell's been raising interest rates for a year in the hopes of fighting inflation. He was originally expected to hike rates by 50 basis points after sounding the alarm on the rising cost of living just last month. However, the sharp rate rises of the past year were partially to blame for the collapse of Silicon Valley Bank , and there were concerns that another rate hike could further harm banks holding long-dated Treasury bonds that had sunk in value as rates soared.
Jean-Pierre touted Biden for building a strong economy with a jobs report that showed 300,000 new jobs last month.However, other members of the Democrat party disagree. Senator
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