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New York Times (March 21)

2023/ 03/ 22 by jd in Global News

“The failures of Silicon Valley Bank and three other lenders over the past 11 days” have “put the Fed in a difficult position as it prepares to deliver on Wednesday one of the most consequential decisions on interest rates of the Jay Powell era.” In addition to tightening rates to curb inflation while somehow avoiding a recession, the “banking crisis hands the central bank a third crucial challenge: how to steer the banking sector out of the predicament and restore confidence in the sector.”

 

Washington Post (October 8)

2013/ 10/ 09 by jd in Global News

John Boehner, Speaker of the U.S. House of Representatives “doesn’t know how to get out of the predicament. A shutdown is bad; a default on the debt, which looms 10 days from now, could be catastrophic…. At some point, Mr. Obama and the Democrats will have to throw the speaker a lifeline…. But throwing a lifeline is pointless until the victim realizes he may be drowning. It’s not clear the Republicans have reached that point. The danger is they will take the country down with them.”John Boehner, Speaker of the U.S. House of Representatives “doesn’t know how to get out of the predicament. A shutdown is bad; a default on the debt, which looms 10 days from now, could be catastrophic…. At some point, Mr. Obama and the Democrats will have to throw the speaker a lifeline…. But throwing a lifeline is pointless until the victim realizes he may be drowning. It’s not clear the Republicans have reached that point. The danger is they will take the country down with them.”

 

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