Fed officials say sense of financial stability cleared path for rate hike

as a whole, with one dismissing the California-based lender’s failure as not relevant to how other banks are managed.

Speaking to reporters later, Bullard said that “SVB was a very unusual bank. Different from almost any bank in the country….will be successful and [the Fed] will end up dealing more with the strong economy going through the spring and the summer and not worrying as much as we are right now about financial stress.”

The bulk of Bullard’s colleagues see only one more small rate hike as necessary, while the policy-settingthis week dropped its guidance that said “ongoing increases” in rates would likely be necessary. Investors feel that may be the last rate hike, and Fed Chair Jerome Powell said in his post-meeting news conference on Wednesday that there was debate about possibly pausing now.

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