SVB’s Collapse Says a Lot About San Francisco and Seattle
The whirlwind failure of Silicon Valley Bank underscores how uneven an economic recovery will be across the country, even if the Fed achieves a soft landing.
SVB bank failure only adds to San Francisco’s troubles.
Photographer: David Paul Morris/Bloomberg
The Federal Reserve has been reminding investors that it intends to keep raising rates until it cools inflation closer to its 2% target and restores balance to the economy. But it is focused on the national picture. What will a more balanced US economy look like at the metro level?
Some places will always do better than others, and the post-pandemic economy is no different. The Silicon Valley Bank failure has underscored how local economic conditions can ripple through a region in unexpected ways.