Amid interest rate hike expectations, the Federal Reserve admits the failure of Silicon Valley’s supervision

The US Federal Reserve on Friday called for more banking oversight while acknowledging its own failings in a widely expected report published on Friday about the collapse of Silicon Valley Bank (SVB) last month.

“After the failure of the Silicon Valley Bank, we must strengthen the Fed’s supervision and regulation based on what we have learned,” said Fed Vice Chairman for Supervision Michael Barr in a statement accompanying the report.

Slowing inflation in America

Low energy prices contributed to a large extent in reducing inflation in March in the United States, but that may not be enough to prevent the US Federal Reserve from raising interest rates again next week, according to an economic analysis of Agence France-Presse.

According to the Personal Consumption Expenditure Price Index (PCI), for which the Ministry of Commerce published figures on Friday, inflation reached 4.2 percent in March, a significant decline from the previous month (5.1 percent), and is at its lowest level in two years.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top