Cultural Shift in Federal Reserve Supervision Another Contributor to Banking Turmoil: House Panel

Cultural Shift in Federal Reserve Supervision Another Contributor to Banking Turmoil: House Panel
Michael Barr testifies at the Senate Banking, Housing, and Urban Affairs at the U.S. Capitol on May 19, 2022. Tasos Katopodis/Getty Images
Andrew Moran
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Since the COVID-19 public health crisis, the Federal Reserve system has undergone a cultural shift in supervision, and this may have been another contributing factor to the turmoil in the banking system, a House committee heard.

The House Financial Services Committee hosted a hearing on May 16. It featured testimony from Fed Vice Chair for Supervision Michael S. Barr and Federal Deposit Insurance Corp. Chair Martin Gruenberg.

Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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