Banking sector crisis in US tightened credit conditions

 Banking sector crisis in US tightened credit conditions: Fed Chair The recent banking crisis in the US appears to have resulted in tighter credit conditions and they are likely to hurt economic activities, said US Federal Reserve Chair Jerome Powell after the two-day monetary policy review meeting where it once again hiked interest rates in their pursuit of managing inflation. The US monetary policy committee, seeking to achieve inflation at the rate of 2 per cent over the longer run, hiked the key interest rate by another 25 basis points to 5.0-5.25 per cent.The latest hike was the same size as its previous rate increase in the March meeting and marked the tenth straight rate hike. Powell said in a press conference that credit conditions had already been tightening over the past year in response to the US monetary policy actions and a softer economic outlook.. [Read more]( If you would prefer not receiving our emails, please [Click Here](