Online Public Relations Thoughts

In the face of regional bank meltdowns, the Federal Reserve raised the interest rate by a quarter of a percentage point.  That only adds to the stress of imperiled institutions but the Fed was making a statement: "We're serious about inflation."  It was a message the markets needed to hear because there was speculation the Fed would halt the rise.  Are other smaller banks going to follow the demise of Silicon Valley Bank?  It is too early to know but the Fed is on alert and is under pressure from Congress for its oversight of SVB.  The Fed repeatedly warned the bank that it was at risk but the executives did nothing before closing its doors.  There is need for another message now.  "The banking system is stable."