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be sure to state the top winning entry. the federal reserve has announced plans to raise interest rates by a quarter of a percent. jerome powell held a press conference to explain the central decision which comes almost two weeks after the failure of silicon valley bank and signature bond. this is about 45 minutes. good afternoon. let me briefly address recent development in the banking sector. in the past two weeks, serious difficulties at a small number of banks have emerged. history has shown that isolated banking problems if left unaddressed can undermine confidence and threaten the ability of the banking system as a whole to play it viable in the credit needs of households and businesses. that is why in response to these events, the federal reserve working with the treasury department and the fdic took decisive action to protect the u.s. economy and strengthen public confidence in our banking system. these actions demonstrate that all depositor savings in the ban ....
good afternoon. before discussing today s meeting let me briefly address recent difficulties in the banking industry. in recent weeks, a small number of issues have been observed. history has shown that small problems in the banking system if left unaddressed can cause problems in the banking industry as a whole. that s why the federal reserve working with the treasury department and fdic took decisive action to address the economy and strengthen public d.v.d. in our banking system. these actions demonstrate that banking industry is safe. we created the bank term funding program to ensure that banks who hold safe and liquid assets can borrow reserves against those assets at par. this program along with our long-standing discount window is effectively meeting the unusual funding needs some banks have faced and make clears that ample liquidity in the system is available. our banking system is sound and resilient with strong capital and liquidity. we will continue to cl ....
Transcripts For CSPAN White House Briefing With NSC Communications Coordinator John Kirby 20230323 archive.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archive.org Daily Mail and Mail on Sunday newspapers.
good afternoon. before discussing today s meeting let me briefly address recent difficulties in the banking industry. in recent weeks, a small number of issues have been observed. history has shown that small problems in the banking system if left unaddressed can cause problems in the banking industry as a whole. that s why the federal reserve working with the treasury department and fdic took decisive action to address the economy and strengthen public d.v.d. in our banking system. these actions demonstrate that banking industry is safe. we created the bank term funding program to ensure that banks who hold safe and liquid assets can borrow reserves against those assets at par. this program along with our long-standing discount window is effectively meeting the unusual funding needs some banks have faced and make clears that ample liquidity in the system is available. our banking system is sound and resilient with strong capital and liquidity. we will continue to clo ....