Just two days before Silicon Valley Bank and Signature Bank collapsed, Federal Reserve Chair Jerome Powell told Congress that there was “nothing in the data” suggesting problems from rate hikes. But here’s the kicker: the Fed is the banking supervisor. They already had SVB’s balance sheets, reports, and risk data in hand.
So how did the nation’s top regulator miss one of the biggest bank failures in modern history? Was it incompetence, denial, or willful blindness?
This clip breaks down why the Fed failed, what they overlooked, and why it matters for the stability of the entire financial system.
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