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Podcast: The Fed delivers a dovish rate increase

March 31, 2023

At the outset of March’s FOMC meeting, there was speculation that the Fed would pause rate increases, especially with the current banking crisis. However, at the conclusion of the meeting, Chairman Powell announced a 25 basis point increase in interest rates, the ninth consecutive increase of this tightening cycle. How are markets reacting to this news? What impact are these rate increases having on inflation and the overall economy? And what is our outlook for a potential recession? Nationwide’s Chief Economist Kathy Bostjancic and Deputy Chief Economist Bryan Jordan provide their analysis of the FOMC’s announcement and their outlook on potential economic and financial market impacts.

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