2023-05-03T17:02:39-04:00May 3rd, 2023|2- Daily Briefing, Uncategorized|

Powell Stands by His Actions, SVB Report

As anticipated, Chairman Powell opened his press conference today by describing the banking system as resilient and defending the Fed’s handling of recent failures.  Asked whether or not the JPM acquisition of FRC poses systemic risk, the Chair said that the Board generally opposes making very large banks still bigger, but that this was a “good outcome.”