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| Name | Powell and Yellen killed First Republic Bank: Analyst |
| Video Uploader | Video From Yahoo Finance |
| Upload Date | This Video Uploaded At 27-04-2023 21:25:51 |
| Video Discription | #Powell #federalreserve #youtube The fate of First Republic Bank is in question, as pressure mounts on the embattled lender after it revealed a massive fall in deposits during the first quarter. As Wall Street debates the cause of First Republic’s (FRC) troubles, one analyst blames the nation’s top financial regulators. Fed Chair Jerome Powell and Treasury Secretary Janet Yellen were “advocates of the strategy called ‘go big at the Fed’,” Chris Whalen, Whalen Global Advisors Chairman tells Yahoo Finance. “After 2018…we had a big problem in the money markets, so I think Chairman Powell…panicked in Washington, and they decided to provide more reserves.” As the COVID-19 pandemic hit, the central bank acted again, bringing the Fed’s balance sheet to nearly $9 trillion. “What they did, in essence, was throw a lot of money at a perceived problem, but they’ve created a real problem now, which is that interest rates have risen,” Whalen says. "The Fed has created a huge market risk, so these outliers like Silicon Valley, First Republic, have tipped over in a difficult funding market.” In his full interview, Whalen spoke with Brad Smith and Julie Hyman about the issues First Republic (FRC) is facing. Key Video Moments 00:00:05: Powell and Yellen's strategy 00:01:10: Huge market risk 00:01:35: Unrealized losses on balance sheets Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more. To learn more about Yahoo Finance Plus please visit: https://yhoo.it/33jXYBp Connect with Yahoo Finance: Get the latest news: https://yhoo.it/2fGu5Bb Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz Follow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV [CuXXeusRk60] |
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