‘How did this happen’ — Powell says Fed stumped over the collapse of SVB By Cointelegraph
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United States Federal Reserve Chairman Jerome Powell has conceded that his regulator was blindsided by the sudden collapse of Silicon Valley Bank, despite it being under their watch.
In a press conference held just after the Federal Open Market Committee meeting on March 22, Powell said he immediately knew there was a need for an internal investigation when the bank shut down on March 10, stating:
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United States Federal Reserve Chairman Jerome Powell has conceded that his regulator was blindsided by the sudden collapse of Silicon Valley Bank, despite it being under their watch.
In a press conference held just after the Federal Open Market Committee meeting on March 22, Powell said he immediately knew there was a need for an internal investigation when the bank shut down on March 10, stating:
Continue Reading on Coin Telegraph
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