US Banking system remains "sound and resilient"

A direct quote from the minutes of the March 2023 Federal Reserve Open Market Committee meeting is:

Participants agreed that the US banking system remained sound and resilient.

Does this give you a warm and fuzzy feeling? Is the above quote the new "inflation is transitory" meme? I humbly ask this esteemed group for its insightes.

Thank you in advance for the well thought-out, civilized and insightful discussion that I'm sure will ensue.

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AthrillatheHunt · 51-55, M

Didn’t they say that right before the Great Depression ? Haha

irishmolly72 · 56-60, F

@AthrillatheHunt Here is an example of financial stability:

https://www.msn.com/en-us/money/other/first-republic-bank-shares-plunge-as-rescue-hopes-falter/ar-AA1auqKB