We will continue to closely monitor the conditions in the banking system.

“We will continue to closely monitor conditions in the banking system, and we are ready to use all the tools necessary to keep the system safe and sound,” said Federal Reserve Chairman Jerome Powell. used the phrase.

“As we assess the need for further rate hikes, we will focus on incoming data, the changing outlook, and particularly the unanticipated effects of the credit tightening,” Fed Chairman Powell said. made the statement.