The Latest Breaking News from the US Federal Reserve

NAB passes on the Reserve Bank's full rate hike to its home loan customers, but only two of its savings accounts, while the Australian share market drops on renewed worries about the stability of the US banking system.

WASHINGTON: The US Federal Reserve on Tuesday opened a two-day meeting to decide whether to raise its benchmark lending rate for a 10th — and possibly final — time to tackle rising prices.

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.

Watch as Jerome Powell holds a news conference after the US Federal Reserve announced that it was to hike interest rates on Wednesday, 22 March.

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."