Fed officials see continuing to raise interest rates to curb inflation
The minutes of the US Federal Reserve meeting in March revealed that many members were concerned about the regional banking liquidity crisis.
The minutes showed that the repercussions of the US banking crisis are likely to push the economy towards recession during the current year.
Policy makers commented that recent developments in the banking sector are likely to lead to tougher credit conditions for households and businesses, and impact economic activity, employment and inflation.
Fed officials have indicated that it is appropriate to continue raising interest rates to curb inflation.
The previous Fed meeting resulted in an interest rate increase of 0.25 basis points, which is the ninth consecutive increase, to reach the range between 4.75% and 5%.
