Jay Powell's Statement on the Banking Situation

Andrés: It is impossible for him to say something clever about the banking situation. But just yesterday, one of the members of the Economic Council advising the White House on Economic Matters explicitly said that raising interest rates at this juncture would probably call small stress in the banking system. And ultimately, I guess Jay Powell could have said that given that the White House basically accepted that notion yesterday explicitly. So that could have been an option but it would have been a very dauvish option.