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NYSE trader
Peter Tuchman has worked at the New York Stock Exchange for nearly 38 years.
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Empty storefront
A person wears a protective face mask near an empty store in the NYC Flatiron District.
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Traders
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TikTok CEO Shou Zi Chew in Washington, DC on Tuesday February 14, 2023.
TikTok CEO Shou Zi Chew in Washington, DC on Tuesday February 14, 2023.
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Good Morning. I'm Jason Ma, writing to you from Los Angeles. Between fighting inflation or the bank crisis, the Federal Reserve leaned toward the former. Not only did policymakers raise rates by another quarter point, dashing some hopes for a pause in tightening, the so-called dot plot of their forecasts indicated another increase is coming later this year.

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A photo illustration of PacWest's logo. Pacific Western Bank is a California-based lender.
Regional banks like PacWest have been hit with deposit outflows.