Fed's Barr: We'll look at data and make meeting-by-meeting judgement on rates
"We will be looking at incoming data, financial conditions to make a meeting-by-meeting judgement on rates," Federal Reserve Vice Chair for Supervision Michael Barr said on Wednesday, as reported by Reuters.
Key takeaways
"it's fair to ask if the supervisors of SVB could have been more aggressive."
"We have substantial authority to supervise firms in an appropriate way."
"A tiering approach makes sense."
"But we do need stronger rules on capital and liquidity for banks of $100 bln and up."
"Monetary policy decisions were well-telegraphed and essential to meet mandates."
"Bank management failed to manage straightforward interest-rate risk."
Market reaction
The US Dollar Index clings to modest daily recovery gains at 102.70 following these comments.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
