Fed Chair Powell Says We Learned From Silicon Valley That There Is A Need For Stronger Supervision, Regulation For Banks Of That Size'
Portfolio Pulse from Happy Mohamed
Federal Reserve Chair Jerome Powell emphasized the need for stronger supervision and regulation for banks the size of those in Silicon Valley, according to Reuters.
June 21, 2023 | 2:44 pm
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Fed Chair Powell's call for stronger supervision and regulation of large banks may impact the financial sector within the S&P 500 ETF (SPY).
Fed Chair Powell's statement on the need for stronger supervision and regulation for large banks may lead to increased regulatory scrutiny and compliance costs for these banks. This could negatively impact their profitability and, in turn, affect the financial sector within the S&P 500 ETF (SPY), causing a short-term negative impact on its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50