Federal Reserve Board Chairman Jerome Powell testifies as Sen. John Fetterman (D-PA) looks on during a hearing before Senate Banking, Housing, and Urban Affairs Committee at Dirksen Senate Office Building on June 22, 2023 on Capitol Hill in Washington, DC. The committee held a hearing to examine the Semiannual Monetary Policy Report to the Congress. (Alex Wong/Getty Images)
In a speech delivered on Monday at the Bipartisan Policy Center in Washington, D.C., the Federal Reserve Vice Chair for Supervision Michael Barr announced plans to enhance the financial cushions for larger banks in order to bolster the resilience of the banking system following a series of bank failures this year.
Federal Reserve Board Chairman Jerome Powell arrives at a hearing before Senate Banking, Housing, and Urban Affairs Committee at Dirksen Senate Office Building on June 22, 2023, on Capitol Hill in Washington, DC. The committee held a hearing to examine the Semiannual Monetary Policy Report to the Congress. (Alex Wong/Getty Images)
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