Banking shock exposes cheap cash addiction

What goes up must come down: Federal Reserve Board Chair Jerome Powell leaves a news conference in Washington. The Fed’s hiking cycle contributed to the sudden collapse of tech lender Silicon Valley Bank recently. Photo: Saul Loeb/AFP

The turmoil, which some say was inevitable given aggressive hiking cycles, exposes the dependency of advanced economies on cheap credit

Tags: 2008 Global Financial Crisis, American International Group, Bank for International Settlements, Ben Bernanke, China, Credit Suisse, Donald Trump, Federal Open Market Committee, Great Depression, Hugo Pienaar, Interest Rates, Lehman Brothers, Michael Power, NinetyOne, Paul Volcker, Quantitative Easing, real-estate bubble, Silicon Valley Bank, Us Federal Reserve