Fed member James B. Bullard He made statements on the FED’s latest interest rate decision.
Stating that the stress on the financial system can be reduced by the regulators, Bullard said that it is not surprising that some businesses cannot adapt to changing financial conditions.
Stating that the macroeconomic data in the USA is stronger than expected and inflation continues to remain high, Bullard said that inflation expectations for this year are low.
“What happened at SVB Bank seems quite unusual for a few banks in a similar situation. So far, the rescue of Credit Suisse has been positively received by the markets.
People should not forget that we have many tools at our disposal to keep the financial system afloat.
The situation today is very different from the period from 2007 to 2029.
Abandoning the 2% inflation target would be a disaster and would take the world back to the 1970s.
Businesses will adapt to the current situation, but this will take some time. The banking system in the US is still very strong and resilient, still in good shape.”
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