The U.S. central banking system—the Federal Reserve, or the Fed—is the most powerful economic institution in the United States, perhaps the world. Its core responsibilities include setting interest rates, managing the money supply, and regulating financial markets.

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The Federal Reserve raised interest rates to combat high inflation, despite financial stress caused by the collapse of two regional banks.

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The Fed has raised its benchmark interest rate by a quarter percentage point, making it more expensive for people seeking car loans or credit cards.

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Members of the Fed's rate-setting committee believe higher rates may be necessary to restore price stability, and expect to raise rates by another quarter-percentage point by the end of this year.

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The central bank should pause its rate hikes to assess the fallout from the collapse of Silicon Valley Bank and Signature Bank.

FED Said :- Stress in the banking system has eased, with large withdrawals from regional banks stabilizing.

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"The U.S. banking system is sound and resilient," the Fed's monetary policy statement said.

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