The collapse of First Republic means that three of the four largest bank collapses occurred in 2023.
based on analyzing Fed rates and U.S. monetary policy. On Monday, following the collapse of First Republic Bank, the chart showed the possibility of a Fed rate hike as fluctuating between 88 and 92 percent.
"They want to be able to say that they were 100 percent committed to killing inflation, that even in the face of a difficult circumstance they continue to be the face of inflation fighters," he said."And that means more to them because they want to communicate to markets that they are absolutely committed to bringing inflation down. And that speaks volumes."
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