Deripaska described the situation in the US economy with the phrase “the filly will not stand it”

The situation in the US economy is very problematic due to the militarization, sanctions and military adventures of the country, declared Russian businessman Oleg Deripaska in his Telegram channel. He wrote about this while commenting on an interview with Starwood Capital Group CEO Barry Sternlicht on CNBC about the next increase in the Fed’s key rate.

All of the above has already cost the US $33 trillion, and “printing for free” will no longer work, he believes.

“But then there’s this problem of nearly $17 trillion in unsecured deposits in regional banks. Something tells me that the filly will not survive, ”he wrote.

March 22 Federal Reserve System (FRS) USA raised the base rate by 0.25 percentage points to 4.75-5% per annum. The regulator explained this decision by the desire to achieve maximum employment growth and reduce inflation to 2% in the long term, which requires further tightening of monetary policy.

In its press release, the Fed also said that the US banking system is resilient despite the difficulties it has faced recently, referring to the closure of two banks. However, these problems, as acknowledged by the Fed, will make lending less profitable for households and businesses, which will have a negative impact on economic activity, hiring new workers and inflation.

On March 10, the collapse of the American Silicon Valley Bank, which ranked 16th among the largest US banks and specialized in working with startups, collapsed. Western publications noted that the collapse of SVB was the second largest bankruptcy in US history after the closure of Washington Mutual in 2008. On March 13, Signature Bank also closed due to “systemic risks.”