Federal Reserve chair Jerome Powell is predicting that more small banks will likely close or merge due to commercial real estate weaknesses, but that the problem is ultimately “manageable.”
The central bank official made this point during a 60 Minutes interview that aired Sunday night. It was Powell’s first comments about the industry following a new bout of turmoil cascading through the stocks of many regional banks.
“I don’t think there’s much risk of a repeat of 2008,” Powell said,…
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