The Latest Breaking News from the US Federal Reserve

New York (AFP) - Wall Street stocks slumped Wednesday as the US Federal Reserve continued hiking interest rates to fight inflation, while noting that banking sector turmoil could weigh on the economy.

While gold prices have edged down, the price of Bitcoin stayed above US$28,000, its highest level in 10 months, for a second straight day on Wednesday, with experts predicting it might go up further if the US Federal Reserve does not raise interest rates this week.

New York (AFP) - Stock markets extended gains on Tuesday, with bank shares rallying as fears of a financial crisis eased after authorities moved to shore up the sector.

JPMorgan's 2008 rescues ended up costing the bank $19 billion.

Interest rate rises look less likely as turmoil continues in financial sector as wider markets find support

Concerns about the world's banks are casting a shadow over the European Central Bank's meeting

The US Federal Reserve faces a tricky balancing act, as it tries to navigate high inflation and instability in the banking sector. Alexander Yokum, of CFRA Research, says the collapse of Silicon Valley Bank and Signature Bank could affect the Fed's next interest rate decision, despite a 6 percent jump…

The CEO of hedge fund Citadel said that backing Silicon Valley Bank's deposits in full was a "loss of financial discipline."

If the Reserve Bank of Australia (RBA) wanted an excuse to end interest rate hikes, the collapse of two US banks just gave it one.