Federal Reserve Board Chairman Jerome Powell.Alex Wong/Getty Images The Federal Reserve raised interest rates by 25 basis points on Wednesday. It comes after Silicon Valley Bank's collapse, and Fed Chair Powell said tightening from the bank chaos could be "equivalent" to a rate hike. But he stressed uncertainty with the impacts and said the Fed will continue using every tool it has to fight inflation. Even after weeks of banking industry chaos, the head of the nation's central bank made one thing certain — he'll do everything in his power to keep fighting inflation.On Wednesday, the Federal Open Market Committee (FOMC) announced it is raising interest rates by 25 basis points for the second time this year.