Asia markets set to fall after Fed raises rates; Hong Kong bucks the trend
Yellen says not considering blanket insurance' for deposits
Yellen said the administration was not considering expanding bank deposit guarantees beyond the current limit of $250,000, Reuters reported. Some investors was hoping such an expansion would help prevent the crisis from spreading further.hiked its benchmark interest rateThis marks the central bank's ninth hike since it began raising rates in March 2022, as well as its first announcement following the recent fallout in the banking sector.
Financial conditions seem to have tightened more than the U.S. benchmark indexes indicate, Federal Reserve Chair Jerome Powell said during Wednesday's press conference.
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