BLUF: Despite the Federal Reserve’s assurance of the banking system’s soundness and resiliency, the recent decline of PacWest Bank’s stock and other regional banks, along with a Gallup poll showing concern among the public about the safety of their money in banks, indicate a growing lack of confidence in America’s financial system. The possibility of a pause or end to the Fed’s interest rate hiking cycle and tightening credit conditions for households and businesses further compound this issue.Source…
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