According to St. Louis Fed President James Bullard this bank "crisis" will abate in the weeks and months ahead as this only involved a few small regional US tech banks who were very poorly managed just like the much bigger EU bank for years before getting into trouble as the Saudi decided to stop propping them up.
The US Fed wants the unemployment rate to rise to slow the economy before they even start to look at cutting interest rate given it's currently at record low which is why they've been having so much trouble curbing inflation but the economic data has been showing inflation has been on the downtrend since 6 months ago. I actually think this latest bank "crisis" is what will stop consumers from spending which is what they've been still doing due to the very strong labour market.
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