Atlanta Fed's Bostic now speaking:
- As the SVB collapse shows that fed processes and policies will have to change to become "on-demand" as banks and need them
- Would-be operational challenges to a "24-7" opening of the Fed's discount window
Nothing on economy or monetary policy from the Atlanta Fed President so far.
- AI technology could be helpful to bank supervision
- question SVB raises is whether Fred could use a big data algorithms and approaches to identify material risks
- deposit insurance limits structured around the needs of families and not for businesses
- would be uncomfortable for a regulator to impose limits on withdrawals
Comments are shifting toward the economy
- Fed has had a lot of tightening over the past year. Don't want to pressure what a slowdown will look like
- comfortable waiting a little bit to see how economy plays out
- Will take decisions a meeting at a time and let things play out
/inflation