'Breitbart Business Digest' co-author and economics and finance editor John Carney reacts to the FDIC taking control of Silicon Valley Bank deposits on 'Kudlow.' Subscribe to Fox Business! Watch more Fox Business Video: Watch Fox Business Network Live: FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York - the business capital of the world - FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C. Follow Fox Business on Facebook: Follow Fox Business on Twitter: Follow Fox Business on Instagram: ...(read more)
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As the COVID-19 pandemic continues to wreak havoc on the global economy, former Federal Reserve Governor John Carney warns that the United States may be headed for more bank failures in the near future. Speaking at the Barclays Global Financial Services Conference, Carney acknowledged that the banking sector has remained relatively stable during the pandemic so far. Stimulus measures and aggressive interventions by central banks have helped keep the financial system afloat. However, Carney warns that the worst may be yet to come. He notes that small community banks and regional institutions, which are more vulnerable to economic shocks, may not be able to weather the storm for much longer. Carney notes that the United States has roughly 5,000 banks in total, many of which are smaller institutions that cater to local communities. These banks may struggle to survive if the pandemic-induced economic downturn persists over the long-term. The former Fed governor also notes that the banking sector may be vulnerable to other shocks beyond the pandemic. For example, geopolitical tensions, trade wars, or other global events could disrupt financial markets and cause significant problems for banks. Despite his warnings, Carney does note that the current situation is not as dire as the 2008 financial crisis. Banks are better capitalized and more strictly regulated now than they were a decade ago, which should help mitigate some of the risks. Still, Carney's warning highlights the need for continued vigilance and caution in the banking sector. If economic conditions do worsen, banks will need to be prepared to weather the storm and prevent widespread failures that could hurt both the financial system and the broader economy. Ultimately, only time will tell whether Carney's warnings will come to pass. However, his insights provide an important reminder of the uncertainties and risks that still exist in the banking sector, even as the world begins to recover from the pandemic. https://inflationprotection.org/possible-rewritten-title-john-carney-predicts-more-bank-failures-in-the-us-future/?feed_id=86955&_unique_id=64363fd871faa #Inflation #Retirement #GoldIRA #Wealth #Investing #Bidenbudget #bideneconomy #Bidenspending #businessnews #Congressspending #fbn #foxbiz #FoxBusiness #foxbusinesschannel #foxbusinesskudlow #foxbusinesslarrykudlow #FoxBusinessNetwork #foxbusinessnews #JoeBidenbudget #kudlow #kudlowmonologue #kudlowmonologuetonight #kudlowtonight #larrykudlow #larrykudlowmonologue #PresidentBidenbudget #siliconvalleybank #siliconvalleybankcrash #siliconvalleybankexplained #siliconvalleybankwhathappened #BankFailures #Bidenbudget #bideneconomy #Bidenspending #businessnews #Congressspending #fbn #foxbiz #FoxBusiness #foxbusinesschannel #foxbusinesskudlow #foxbusinesslarrykudlow #FoxBusinessNetwork #foxbusinessnews #JoeBidenbudget #kudlow #kudlowmonologue #kudlowmonologuetonight #kudlowtonight #larrykudlow #larrykudlowmonologue #PresidentBidenbudget #siliconvalleybank #siliconvalleybankcrash #siliconvalleybankexplained #siliconvalleybankwhathappened
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