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Fed Raises Rates Despite Banking Sector Turmoil, Suggests One More Increase To Come

Members Vote Unanimously To Boost Target Rate Another Quarter Point
Federal Reserve Board Chairman Jerome Powell at Wednesday's news conference at the Federal Reserve. (Getty Images)
Federal Reserve Board Chairman Jerome Powell at Wednesday's news conference at the Federal Reserve. (Getty Images)
CoStar Analytics
March 22, 2023 | 8:19 P.M.

Despite the recent collapse of three U.S. regional banks, sending financial markets into a tailspin, the Federal Reserve’s policy-making committee voted unanimously to boost its target rate another 25 basis points higher on Wednesday.

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