The Fed, however, is fighting a two-front war, with its rate hikes possibly having helped expose balance sheet issues at a number of U.S. banks. This past weekend came the latest in a series of lender failures, with the nation’s 12th-largest bank by assets, First Republic (FRC), requiring a joint rescue by the Federal Deposit Insurance Corporation (FDIC) and JPMorgan (JPM).
Source: https://www.coindesk.com/business/2023/05/03/federal-reserve-raises-fed-funds-rate-by-25-basis-points/?utm_medium=referral&utm_source=rss&utm_campaign=headlines