Fed Chair Powell: We're All Asking How Bank Turmoil Happened

What was the primary concern that led to the invocation of the systemic risk exception?

• The specific banks' failure

• A potential economic contagion

• Public confidence in the banks

• The banks' internal management issues

Who is responsible for leading the Federal Reserve's internal investigation?

• Vice Chair Bar

• The board of directors

• The President of the Federal Reserve

• The narrator

What immediate action was taken following the realization of the need for a review?

• A meeting was held on Monday morning

• The banks were closed temporarily

• An external audit was initiated

• A public announcement was made

What role does the narrator play in the investigation process?

• Announcing the review and receiving briefings

• Leading the investigation

• Providing financial support

• Conducting interviews with bank officials

What was the main question asked by the team over the first weekend?

• How did the banks fail?

• Who will lead the investigation?

• What is the role of Vice Chair Bar?

• When will the review be completed?