Home » Markets » Goldman Sachs economist 'no longer' expects March rate hike in wake of Silicon Valley Bank collapse
Goldman Sachs economist 'no longer' expects March rate hike in wake of Silicon Valley Bank collapse
Economic expert Robert Wolf reassures consumers that SVB collapse is ‘nothing like Lehman’
Former Obama economic adviser and former CEO of UBS Robert Wolf breaks down the historic collapse of Silicon Valley Bank and the economic fallout that has followed on ‘Fox & Friends Weekend.’
Goldman Sachs does not see a reason for the Federal Reserve to raise rates later this month in the wake of the United States’ second-largest banking collapse last week, according to one of the company’s economists.
In a statement on Sunday, Goldman Sachs economist Jan Hatzius said he no longer expects a rate hike in March following recent actions from the federal agencies to calm depositors’ worries after the Silicon Valley Bank’s collapse on Friday.
On Sunday, the Treasury, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) put out a joint statement announcing actions intending to stabilize the banking system and prevent a potential banking crisis.
"In light of recent stress in the banking system, we no longer expect the FOMC [Federal Open Market Committee] to deliver a rate hike at its March 22 meeting with considerable uncertainty about the path beyond March," Hatzius said.
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