Michael Barr is sworn in as Federal Reserve Vice Chairman oversight by U.S. Federal Reserve Chairman Jerome Powell in the press room at the William McChesney Martin Federal Reserve Board Building in Washington July 19, 2022. U.S. Federal Reserve Advice/Delivery via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY

Fed’s Barr to Congress: SVB chapter is ‘textbook case of mismanagement’

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Lower than three weeks after the Silicon Valley Financial institution crash, Federal Reserve oversight vice chairman Michael Barr will inform lawmakers on Tuesday that the crash was a textbook case of mismanagement after what was the nation’s Sixteenth-largest lender is fell into receivership inside days. “SVB’s chapter is a textbook case of mismanagement,” Barr’s testimony …

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