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Sunday, June 4, 2023
Newsproblems are piling up in the country's financial system

problems are piling up in the country’s financial system



The head of the US Federal Reserve said the financial system was accumulating problems, but he believes that “the US banking system is reliable and stable”.

Tsargrad writes that Fed Chief Jerome Powell issued a statement on the state of the banking system after repeated reports of an impending financial crisis and the exit of Silicon Valley Bank from the market.

“The American banking system is reliable and stable. Recent developments are expected to tighten credit conditions for households and businesses, as well as put pressure on economic activity, hiring and inflation,” Powell said.

He thinks that if you don’t start fixing the problems with individual banks, they will become a threat to the entire US banking system.

Earlier it became known that while Volodymyr Zelensyy, in response to Vladimir Putin, “rewarded the army in the direction of Bakhmut”, a new corruption scandal erupted in Kiev.

Copyright © 2023 The Eastern Herald.

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