Statement from the Federal Reserve Regarding Interest Rates

Michael Barr, the Vice Chair of the Federal Reserve, stated in a statement today, Wednesday, that he will make decisions regarding interest rates going forward on a meeting-by-meeting basis, taking into account financial conditions along with other factors. Barr added before the House Financial Services Committee on the second day of hearings regarding the collapse of Silicon Valley Bank, "We will look at incoming data. We will examine changing financial conditions, and we will make a judgment on a meeting-by-meeting basis regarding this decision."