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Federal Reserve Chair Jerome Powell will announce Wednesday afternoon whether interest rates in the United States will go up for the 10th time in the last year.The Fed will make the decision following the announced bank failure ofFirst Republic Bank. The bank became the third in the U.S. to crumble after the March collapses of Silicon Valley Bank and Signature Bank.Another interest rate hike is considered likely as Powell has stated that the boards goal is to get the annual rate of inflation <a href=https://www.stanleycup.cz>stanley cup</a> down to 2%.According to the Bureau of Labor Statistics,the rate of inflation was at 5% as of March, which is down from a peak of 9.1% last summer.Since last year, the Fed has increased theFederal Funds ratefrom <a href=https://www.stanley-cups.uk>stanley cup</a> 0.75%鈥?% to 1.5%鈥?.75%. After a series of interest rate increase <a href=https://www.stanley-quencher.uk>stanley cups uk</a> s, the rate now stands at 4.75%鈥?%, its highest mark in 15 years.SEE MORE: Fed economists project mild recession later this yearDave Weisberger, former vice president of program trading at Morgan Stanley, told Scripps News that when interest rates go up, the price of bonds drops. When the value of these bonds drops, banks are less secure against bank runs. Now, ordinarily, that s not that big of a deal, but the fact is confidence in the banking system outside of the large money center banks, so-called too big to fail banks, is really dropping, he said. So now when you have the second largest bank failure happening, being bought back by JP Morgan and the regional bank indices getting hurt, that s a real problem. So Aaaj Shots fired outside South Division High School, no injuries reported
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