The dramatic developments after the Silicon Valley Bank failure ultimately do little to derail the US Federal Reserve's rate-hike campaign.
and lessen the near-term risks to economic activity and inflation,” the minutes said.
The minutes showed a committee forced by the failures of SVB and Signature Bank into an unexpectedly complex debate, but ultimately moving forward with higher interest rates. Most Fed policymakers since the March meeting, with the notable exception of Chicago Fed President Austan Goolsbee and San Francisco Fed President Mary Daly, have concentrated their remarks on the need to bring down inflation rather than the risk of tightening credit conditions.
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