Fed Raises Rates, Keeps an Eye on Economy and Banks

The transcript discusses the ongoing banking crisis and the Federal Reserve's response, including an internal investigation led by Michael Barr. Jay Powell emphasizes the Fed's focus on inflation over banking turmoil. The Biden administration's stance on economic issues, including the debt ceiling and Fed independence, is explored. The search for a new Vice Fed Chair is highlighted, along with the debate on FDIC deposit insurance and the Treasury's position.

What was the main issue discussed regarding the Federal Reserve's internal investigation?

How did Powell respond to the concerns about inflation and the banking turmoil?

What challenges does the Biden administration face regarding inflation and interest rates?

What steps has the Biden administration taken in response to the banking crisis?

What are the implications of the Fed's decision-making on the labor market?

What is the significance of the vice chair search at the Federal Reserve during this crisis?

How did Secretary Yellen address the issue of blanket insurance for deposits?