The chairman of the Federal Reserve Banks, Jerome Powell, has stated they now expect to pause rate hikes after raising them by another 25 basis point to 5%.
“We believe that events in the banking system over the past two weeks are likely to result in tighter credit conditions for households and businesses, which would in turn affect economic outcomes,” Powell said before adding:
Source: https://www.trustnodes.com/2023/03/22/expect-a-pause-says-powell