MacroVoices #367 Luke Gromen: USD Update in the Wake of SVB Collapse
Macro Voices
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What Happened to Silicon Valley Bank?
The collapse of Silicon Valley Bank is all about interest rates and the Fed's very aggressive hiking cycle. The resulting bank run is one to go down in the history books. In my opinion, they just created a massive moral hazard here. Now Janet Yellen and Jay Powell seem to be taking a victory lap for the day they think they've done something wonderful here.
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