Special Update: Navigating Bank Failures, Fed Rate Hikes, and Risks to the Financial System
Published: March 13, 2023
The recent failure of three U.S. banks has raised concerns over the economy and financial system. The situation is still evolving and there is plenty of speculation as to what might come next. One recent development is that government officials from the Treasury, Federal Reserve, and FDIC have announced that depositors will be made whole in an effort to backstop the system and restore confidence. This crisis has already created hardship for many companies and individuals as
payrolls are disrupted and access to cash is halted. However, when it comes to investing, it's more important than ever to stay levelheaded and focus on the big picture. What should long-term investors know about these bank failures and what do they reveal about the financial system?
-Christopher Cannon, MSAPM, CFP®, RICP®, AIF®
RICP conferred by The American College.
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