Moody's Mark Zandi: Fed's rate hike is 'disappointing'

Moody's Analytics chief economist Mark Zandi at a conference in 2020. (Credit: Sarah Silbiger—Bloomberg via Getty Images)

The Fed's Wednesday interest rate hike is likely to add to headwinds facing the U.S. economy, according to the chief economist of Moody’s Analytics, as a growing number of analysts see a recession as more likely due to the banking crisis. 

“The Fed’s decision to raise interest rates again given the fragile stability in the banking system is disappointing,” tweeted Mark Zandi on Wednesday evening.