Another Fed Rate Hike, Powell Confident on Banks
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The Federal Reserve Chairman surprised practically no one by hiking interest rates on Wednesday, but the Treasury Secretary scared almost everyone.
Despite the fun and games of the past couple weeks, Fed Chair Jerome Powell voiced confidence in the state of banks while announcing his anticipated 25 basis point hike. But while Powell was preaching calm and ample liquidity, Treasury Secretary Janet Yellen sent investors into a tizzy by telling Congress that she was not yet considering any kind of unilateral expansion of FDIC deposit insurance for regional banks.
Source Fool.com
