Bloomberg Wall Street Week March 24th, 2023
Wall Street Week
00:00
The Fed's Arms Around the Problem With Interest Rate Risk
Larry Summers: Policy leaders need to be clear and decisive that depositors are not going to lose their money in large banks or medium-sized banks. He says the problems we have had reflect problems of management at a number of financial institutions, as well as major failures of the supervisory and regulatory paradigm by the Federal Reserve. "It is better to err on the side of overdoing it when you're talking about protecting against bank runs than it is to err onthe side of underdoing it"
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