Federal Reserve faces dual test of high inflation, bank instability
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 in consumer prices. Also in the show: Facebook's parent company Meta confirms a further 10,000 job cuts, and a California court rules that gig economy workers should not be considered employees.
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