U.S. Fed Raising Interest Rates

The US Federal Reserve has raised interest rates by a quarter-point amid concerns over high inflation and banking turmoil [1][2][5]. This move is part of the Federal Reserve's yearlong fight against high inflation [2][6], which has resulted in interest rates reaching the highest level since 2007 [7]. Despite concerns over banking turmoil and the possibility of a credit crunch leading to a recession, the Federal Reserve has signaled that it may soon call time on its monetary tightening campaign [5]. Market pricing and many Wall Street experts have suggested that the Federal Reserve is likely to approve a quarter-percentage-point interest rate increase in the near future, even amid the recent banking turmoil and uncertainty ahead [9].