One year after the failure of Silicon Valley Bank, both Federal Reserve Chairman Jerome Powell and former FDIC Chair Sheila Bair have warned that more bank failures are likely.
“This is a problem we’ll be working on for years more, I’m sure. There will be bank failures”
—Federal Reserve Chairman Jerome Powell, testifying before the Senate on March 7, 2024
What factors might cause these failures, and what can consumers do to protect their money?
Click on the video link below for exclusive insights on this topic from U.S. Money Reserve's Coy Wells.
Related headlines from around the web:
- Fox Business: “Former FDIC head: There will be more bank failures”
- CNBC: “Banks are in limbo without a crucial lifeline. Here’s where cracks may appear next”
- Reuters: “Gold hits fifth record high in March on Fed rate-cut view”
Protect your portfolio with precious metals today.
Gold has historically been used as a hedge against economic uncertainty and market turbulence. As paper-based assets like stocks continue to experience volatility and inflation continues to deflate the dollar’s purchasing power, now may be the perfect time to add wealth protection to your portfolio in the form of physical gold.
Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied. Your use of the information provided in this commentary is entirely at your own risk. In no event will USMR be held liable for any indirect, special, incidental, or consequential damages arising from the use of information contained in this commentary.
