Cathie Wood blames the Fed for driving SVB and Signature Bank to collapse
Cathie Wood pointed to the Federal Reserve's monetary tightening campaign as fuel for the collapses of Silicon Valley Bank and Signature Bank.
"Crypto did not force SVB and Signature into bankruptcy. In my view, Fed policy was the primary culprit," Wood said in aSVB was the largest US banking failure since 2008 and the second largest in history. As a result, the US government stepped in to backstop all deposits at both Signature and SVB. She added that the central bank incorrectly assumed it was fighting 1970s-style inflation, catching many regional banks off guard as they suddenly saw unrealized losses on their bond holdings pile up.
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