The Federal Reserve raised interest rates again by a quarter percentage point, or 0.25% on Wednesday.
Even though there seems to be a looming banking crisis, the Fed did this to slow inflation.
Powell really is stuck between a rock and a hard place. If he had paused rate hikes, it would have caused more panic about a financial crisis.
Raising rates as planned indicates a stay-the-course mentality. It may slow the economy but it will reduce the amount of free money that the government created out of thin air during the pandemic.