By: JACOB BLISS 22 Mar 2023Washington, DC Breitbart
“Our banking system is sound and resilient, with strong capital and liquidity. We will continue to closely monitor conditions in the banking system and are prepared to use all of our tools as needed to keep it safe and sound,” Powell said.
“We are committed to learning the lessons from this episode and to work to prevent episodes from events like this from happening again,” Powell added.
The Federal Reserve Chair was referring to SVB collapsing at the beginning of the month when panicked customers suddenly withdrew tens of billions of dollars after it announced a loss of approximately $1.8 billion from selling its investments in U.S. treasuries and mortgage-backed securities.
Click the link below to read the rest of this story https://www.breitbart.com/economy/2023/03/22/jerome-powell-fed-will-use-all-our-tools-keep-banking-system-safe/
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