© Reuters. Fed prepares to call an urgent meeting! After the sudden collapse of Silicon Valley Bank
Siamblockchain – The Federal Reserve Board of Governors (Fed) has announced that it will hold an urgent emergency meeting at 11:30 AM on March 13, 2023. It is likely that the sudden collapse of Silicon Valley Bank and the The FDIC’s inauguration is pushing for an urgent Fed meeting. Silicon Valley Bank is the biggest bank crash since the 2008 financial crisis. The collapse sent shockwaves throughout the banking system. The status of unsecured deposits worth billions of dollars will become unknown on Monday. It is undeniable that this crisis may bring about the collapse of the economy in various sectors because it can be considered that there is a large amount of money of entrepreneurs or corporations deposited in the Silicon Valley Bank. We will have to wait and see how this urgent discussion will turn out and whether this could be an adjustment to the direction of raising/lowering interest rates after this.
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