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U.S. Federal Reserve governors to hold closed-door Monday

Published 03/12/2023, 03:15 AM
Updated 03/12/2023, 03:20 AM
© Reuters. FILE PHOTO: An eagle tops the U.S. Federal Reserve building's facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst

(Reuters) - The U.S. Federal Reserve said it will hold a closed-door meeting of its board of governors under expedited procedures on Monday.

The meeting from 11:30 a.m. (0330 GMT) will primarily review and determine the advance and discount rates to be charged by the Federal Reserve banks, the Fed said in a statement.

The central bank offered no further details, but the move follows Friday's collapse of Silicon Valley Bank, was the biggest failure since the 2008 financial crisis. It roiled global markets, walloped banking stocks and left California tech entrepreneurs worrying about how to make payroll.

Latest comments

This will likely stop rate hike for now.
Good bye rate hikes
Talks about a recession begun mid 2021…. The Fed ignored, here we are 2 years later and they are just now trying to patch the sinking ship the Biden Administration has been steering out of control since they took over.
Powell will be in serious trouble when tech-related suicides start happening. I doubt he is a gentleman enough to do the right thing to himself.
fed is killing the market.
They have immense pressure on what they did since March 2022, now its time to stop their ruthless rate hiking cycle
Stop the hype! This is a routinely scheduled monthly meeting.
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