Former top Fed official calls for world's two most important central banks to pause plans to raise interest rates

Blinder says Fed, ECB should pause

The Federal Reserve and the European Central Bank should pause their plans to raise interest rates until banking stress recedes, a former top Fed official said Wednesday.

The... The Federal Reserve and the European Central Bank should pause their plans to raise interest rates until banking stress recedes, a former top Fed official said Wednesday. ECB officials will meet Thursday to discuss the path of interest-rates. The Fed has another week to ponder their decision. In the interview, Blinder said concern about the health of Credit Suisse “is a big, big deal,” he said. Worries about U.S. regional banks and Silicon Valley Bank pale in comparison, he added.

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