A major banking crisis hit a number of U.S. banks over the past period, and the ensuing intervention of the U.S. Treasury in order to save what could be saved.
The world suffered two severe blows to the economy during the previous decades, beginning in 1997, and the other in 2008 following the major downturn.
The main cause of the world’s current banking crisis is the tightening of monetary terms by the world’s central banks after years of expansionist policies over the past years.
As a result of this crisis, at a minimum, the task of Fed officials has become very sensitive, and those who have been trying to slow down the economy gradually in order to eliminate inflation.
Government data also showed that prices of products in the world continued to rise at a rapid pace in February. But now, policymakers have to deal with the risk that the Fed’s efforts to fight inflation could destabilize the financial system.
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