The central bank was already under pressure to control inflation, protect the job market, avoid a recession and prevent a repeat of multiple stock-trading scandals.
it was clear “right away” that a review was necessary as officials asked themselves, “How did this happen?” Powell said that the Fed clearly needs to strengthen its supervision of the banking system, and that recommendations would probably come from its investigation.“When a bank fails, there are investigations, and of course we welcome that,” Powell said.
Biden. He was confirmed both times with broad support in the Senate, and so far, people close to the Hill and administration said they don’t expect that support will erode much.could bring more tangible changes to the Fed, Strain said, as lawmakers debate reining the central bank in. This week, Sens.
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