Jerome Powell, chairman of the US Federal Reserve System (FRS), lies or doesn’t know what he’s doing about the state of regional banks in the US as part of the regulator’s path to tighten monetary policy. Such an opinion in an interview with the RIA Novosti agency expression Lawrence McDonald is the former Vice President of Lehman Brothers Financial Corporation.
“It’s like they’re smoking in a dynamite shed. Ten days ago, Powell told us on Capitol Hill that the banking system was in good shape. Either he lied or did not understand what he was doing, ”said the financier.
The Fed has predicted a substantial 100 basis point rate cut by the end of 2023. In early February, the American regulator raised base rate is increased by 25 basis points to 4.50-4.75%.
McDonald was responsible for debt management for Lehman Brothers at the time of the lender’s bankruptcy in 2008. Lehman Brothers was the fourth largest investment bank in the United States. The bankruptcy of this organization is considered the beginning of the global financial crisis.
In the early hours of March 22, MacDonald met with RIA Novosti. expression The view that 50 more banks in the US could fail before the US authorities fix the structural problem.