During his post-FOMC meeting press conference, Federal Reserve Chairman Jerome Powell insisted that the US banking system is resilient and sound. He said this despite the failure of First Republic Bank just days before the Fed meeting. Peter Schiff appeared on the Claman Countdown on Fox News and argued that Powell and others are wrong. He said the US economy is in a financial crisis worse than in 2008. Andy Brenner, head of international fixed income at National Alliance Securities, also appeared in the segment. He started things off by saying problems in the banking sector are “not over by a longshot.”
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