Nick Timiraos: The Fed Doesn't Want Bank Failures In The News
Forward Guidance
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The Federal Reserve's Report on Interest Rate Risk
Steve Leesman had a pretty explosive question about a report that the Federal Reserve produced and presumably J. Powell read. I think in mid February, that warned about interest rate risk within the banking system and name Silicon Valley bank by name. But if you look at that slide, I mean, I don't think it was news to a lot of people who follow this stuff that Silicon Valley bank had a lot of underwater securities. Some people I think took this presentation and said, oh, in hindsight, it all should have been obvious that one month later, there was going to be a bank run on Silicon Valley bank.
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