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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
2008 GLOBAL FINANCIAL CRISIS

Banking shock exposes cheap cash addiction

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

  • Sarah Smit
7 min read