Federal Reserve: Let them eat higher rates

Plus, gang violence paralyzes Haiti.  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

We believe everyone deserves an explanation. That's why we keep all of Vox's journalism free. Today, we're aiming to add 47 new annual contributors to help us deliver on this mission. Will you become one of them? Yes, I'll Give The Fed hikes rates amid banking sector uncertainty; the UN calls for Haiti gang violence intervention.   Tonight's Sentences was written by Jariel Arvin. TOP NEWS The Fed hikes rates despite banking chaos  Alex Wong/Getty Images The Federal Reserve on Wednesday hiked interest rates by 0.25 percentage points in a further effort to curb inflation, amid recent bank instability. [Vox / Li Zhou] The decision shows the central bank is prioritizing bringing down consumer prices, which rose in January after months of decline. The Fed's rate now stands between 4.75 and 5 percent. [The Hill / Tobias Burns] Some in the financial sector worry higher interest rates will further damage an already shaky banking sector, but Federal Reserve Chair Jerome Powell said emergency actions have stabilized banks. [CNBC] Pausing the rate hikes may have led to higher inflation and spooked investors, signaling that problems remain in the banking system. [USA Today / Paul Davidson and Elisabeth Buchwald] With inflation projected to persist through December, Fed officials could hike interest rates another quarter of a percentage point at least one more time this year. [Washington Post/ Rachel Siegel] 📍 Go deeper Vox's Emily Stewart explains how the Federal Reserve's interest rate hikes may have contributed to the collapse of Silicon Valley Bank. [Vox / Emily Stewart] Haiti gang violence worsens The United Nations is calling for special international forces to intervene in Haiti's intensifying gang violence. [Guardian / Tom Phillips] At least 531 people have been killed, 300 wounded, and 277 kidnapped in gang-related activity this year. Haiti's political and economic crises escalated after the 2021 assassination of President Jovenel Moïse. [CBS News] US and Canadian sanctions on Haitian elites suspected of financing the gangs have only worsened the violence and kidnappings. [Miami Herald / Jacqueline Charles] President Joe Biden is expected to ask Canada to lead a mission to help the Haitian police restore stability. However, Prime Minister Justin Trudeau is unlikely to accept due to a history of failed foreign interventions. [Washington Post / Amanda Coletta and Widlore Mérancourt] MISCELLANEOUS The Supreme Court heard oral arguments Wednesday in a trademark dispute between whiskey maker Jack Daniel's and a dog toy manufacturer. [Vox / Ian Millhiser] UK inflation surged to 10.4 percent in February amid high food and energy costs. [CNBC/ Elliot Smith]  Uganda's parliament passed legislation imposing life in prison or the death penalty for people who identify as LGBTQ. [BBC / Patience Atuhaire] Google on Tuesday released its AI chatbot Bard, which is equipped with tools similar to Microsoft's BingGPT. [Vox / Shirin Ghaffary]   Annual contributions help us keep Vox free, and help us know how much we can budget in the year ahead to help us pay our staff, cover reporting and travel expenses, and commission freelance work.   Give today! VERBATIM "There's a high degree of uncertainty to the extent that there are things lurking in the darkness that haven't revealed themselves yet." [Stony Brook economist Stephanie Kelton on possible fallout from the interest rate hike to the banking sector / Vox] LISTEN TO THIS Why Illinois wants to end cash bail This month, the Illinois Supreme Court heard oral arguments in a case examining the Safe-T Act. The legislation would bring sweeping reform to the state's criminal justice system, but one policy in particular has caught the eye and the ire of prosecutors: the elimination of cash bail.    Listen now   ▶ Read more from Vox Why the news is so negative — and what we can do about it Inside the Italian villa that launched some of the world's great philanthropic programs   Yes, Trump's indictment could cause a constitutional crisis. Just look at Israel. Season 4 of Succession is going to be a bloodbath What we know about Trump's likely arrest This email was sent to edwardlorilla1986.paxforex@blogger.com. Manage your email preferences or unsubscribe. If you value Vox's unique explanatory journalism, support our work with a one-time or recurring contribution.   View our Privacy Notice and our Terms of Service.   Vox Media, 1201 Connecticut Ave. NW, Floor 12, Washington, DC 20036. Copyright © 2023. All rights reserved.