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Ackman Says More Banks Will Likely Fail Despite Fed Intervention

Bill Ackman

Bill Ackman

Photographer: Christopher Goodney/Bloomberg

More banks will likely fail despite US authorities intervening to boost the confidence in the banking system following the collapse of Silicon Valley Bank, according to Pershing Square founder Bill Ackman.

He also applauded the government for providing “a clear roadmap” for how it will manage bank failures in the future, Ackman said in a tweet Sunday evening.