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March 22, 2023
In spite of the daunting headline news and subsequent panic that Silicon Valley Bank and Credit Suisse created about ten days ago, the Federal Open Market Committee (FOMC) announced a mostly anticipated minimum interest rate hike this morning of 0.25%. Before the banks collapsed, the consensus was that the FOMC would raise interest rates by ½ of a point (0.50%) and probably announce their intention to continue with additional rate increases for the next several meetings.
JSB Capital Management, LLC
1442 Camino Del Mar, Suite 208, Del Mar, CA 92014