The Fed, however, is fighting a two-front war, with its rate hikes possibly having helped expose balance sheet issues at a number of U.S. banks. This past weekend saw the latest in a series of lender failures, with the nation’s 12th-largest bank by assets, First Republic (FRC), requiring a joint rescue by the Federal Deposit Insurance Corporation (FDIC) and JPMorgan (JPM).
The Fed’s FOMC Raises Fed Funds Rate by 25 Basis Points; Bitcoin Price Flat on the News
