The Federal Reserve’s Federal Open Markets Committee (FOMC) meets next Tuesday and Wednesday and, in the wake of the failures of SVB and Signature Bank, all eyes will be on the central bank. 

It was less than two weeks ago that Chair Powell testified before the House Financial Services Committee and the Senate Banking Committee, giving hawkish comments that clearly put a 50 bps increase on the table.  Then last weekend the financial world watched as the Fed, FDIC, and U.S. Treasury stepped in to save the two banks.  Now the Fed meets in a drastically changed environment, with bank liquidity being as big a concern as inflation. 

As Chair Jay Powell has kept the tradition of holding a press conference after the FOMC makes its rate decision, his words have been closely watched for any signs of future rate policy.  At his press conference this coming Wednesday the condition of the US banking system will be front and center along with the rate decision.  The Chair’s press conference is Wednesday at 2:30 p.m.


After the bank failures last weekend Congress has been relatively quiet. Part of the reason was the fact that the House wasn’t in session so most of the Members were away from the convenient microphones of the Washington pr...

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