"Americans can have confidence that the banking system is safe," Mr. Biden said in brief remarks from the White House."Your deposits will be there when you need them. Small businesses across the country that deposit accounts at these banks can breathe easier knowing they'll be able to pay their workers and pay their bills, and their hard-working employees can breathe easier as well.
Analysts at Bank of America said they"expect regional bank stock volatility to remain challenging in the short run as investors recalibrate the risk-reward" in the coming days. Prices for Treasurys also shot higher on both demand for something safe and expectations for an easier Fed. That in turn sent their yields lower, and the yield on the 10-year Treasury plunged to 3.51% from 3.70% late Friday. That's a major move for the bond market. It was above 4% earlier this month.
"At this point in time, depending on reactions in financial markets and eventual fallout on the overall economy, we wouldn't rule out that the hiking cycle could even be over and that the next move by Fed officials may be lower not higher," said Kevin Cummins, chief U.S. economist at NatWest.Higher interest rates can drag down inflation by slowing the economy, but they raise the risk of a recession later on.
The bank SVB was a large Democratic donor, just like FTX Crypto, imagine that? lol Biden say's he's going after the Billionaires, but he just bailed them out!
Let it happen
And some of you will still send them your money next month
Bidens America
All Americans tumble as the FDIC fund is raided for bad investments.
Remember win, last week, Biden was exclaiming that the wealthy don’t pay enough in taxes? Now he wants to bail them out from losing too much money…
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