Part 3/9:
During a recent testimony before the Banking Committee, Federal Reserve Chairman Jerome Powell stated that there was no systemic risk stemming from rising interest rates. However, events such as the Silicon Valley Bank collapse paint a more complicated picture. The speaker emphasizes that government officials often downplay the severity of such crises to maintain calm, but history shows that official reassurances can be misleading — notably, the 2008 financial crisis began with similar denials.