Stress Tests Show America’s Banks Can Handle ‘Severe Recession’: Federal Reserve

‘Today’s results underscore the strength of the banking system,’ Michelle Bowman, the Fed vice chair for supervision, said in a statement.

The JPMorgan Chase & Co. headquarters along Park Avenue in New York City on Sept. 20, 2016. Benjamin Chasteen/The Epoch Times

America’s largest banks have passed the Federal Reserve’s annual stress test with flying colors.

Since the global financial crisis almost 20 years ago, the Fed has conducted annual stress tests to determine whether the largest banks could withstand an economic shock.