Banking Crisis Throws Fed Rate Hike Plan Into Question
P.M. Edition for March 13. There was a sharp selloff in regional bank stocks and bond prices rose, as investors fled to safe havens following the collapse of Silicon Valley Bank last week. President Biden is assuring Americans about the safety of the U.S. banking system. Reporter Andrew Ackerman says the financial turmoil is throwing a wild card into the Federal Reserve’s rate hike plans. Annmarie Fertoli hosts.
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