Morning Wire SVB Fallout Continues & Walgreens Abortion Pill Backlash | 3.15.23
Mar 15, 2023
The fallout from Silicon Valley Bank's collapse has triggered investigations by the SEC and DOJ, revealing suspicious executive trades. Walgreens faces controversy after restricting the distribution of abortion medication, sparking a significant backlash. College campuses continue to grapple with strict COVID precautions despite public opposition. As inflation data shifts, questions arise regarding the Federal Reserve’s response amid the banking crisis, illustrating the complex interplay between economic policy and public sentiment.
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SVB Investigations
- The DOJ and SEC are investigating Silicon Valley Bank's collapse, including executives' stock trades.
- Executives sold millions in stock weeks before the collapse, despite assuring the public of the bank's stability.
Inflation Concerns
- March inflation remains high at 6%, exceeding the 2% target.
- The Federal Reserve faces a dilemma: raising interest rates could worsen market volatility.
Walgreens Abortion Pill Controversy
- Walgreens faces boycotts after refusing to dispense abortion pills in 20 states.
- This decision follows a letter from Republican Attorneys General and state laws limiting abortion.