St. Louis Fed President said he expects continued slow growth for the economy, not a recession.
Here's a look at key things we learned from Fed Chair Jerome Powell's press conference on Wednesday.
The Fed raised a key interest rate, but also signaled it was ready to pause and said further tightening would depend on how the economy responds to higher borrowing costs.
The task at hand is to convince markets that the central bank won't rush to the rescue in any recession.
Talk about the Fed possibly pausing its rate hikes at its meeting Wednesday has picked up.
Economists and investors will be focused on a single sentence in the Fed statement on Wednesday that will give a sense of where the central bank is headed next.
Cash-hungry banks slightly increased borrowing from the Federal Reserve for the first time in five weeks, to $143.9 billion, in a sign of lingering stress on the U.S. financial system.
There is a trend of slowing inflation and some signs of a gradual cooling in the demand for labor, said New York Fed President John Williams on Wednesday.
Lending fell after the failure of Silicon Valley Bank and businesses hired fewer people, a Fed survey found, but inflation also "appeared to be slowing."
Fed Governor Christopher Waller on Friday said that the central bank needs to continue to raise interest rates.
Chicago Fed President Austan Goolsbee said Friday that a mild recession is definitely a possibility.
Federal Reserve officials were worried at their March meeting that the recent stress in the bank sector would lower U.S. economic growth.
San Francisco Fed chief Mary Daly said the U.S. banking system is "safe and sound," but she did not offer fresh details on the failure of Silicon Valley Bank.
Philadelphia Fed President Patrick Harker on Tuesday said the Fed should raise interest rates above 5% and then pause.
The new head of the Chicago Federal Reserve said the Fed needs "to be cautious" about further increases in interest rates in light of recent bank failures.
The recent bank failures in the United States won't be such a 'big negative' on the U.S. economic outlook, said New York Fed President John Williams on Tuesday.
There are no clear signs of a credit crunch on the U.S. economy, New York Fed President John Williams said Monday.
St. Louis Fed President James Bullard on Thursday downplayed the concern over financial stress on the economy.
Cleveland Fed President Loretta Mester said her forecasts includes 'monetary policy moves somewhat further into restrictive territory' this year.
The stress in the banking sector are likely to reduce consumer spending, New York Fed President John Williams said Friday.