BlockBeats message, March 31, Warren Buffett warned that as ties between the banking system and non-bank institutions have grown closer, he has begun to see signs of fragility in the financial system. He said that maintaining the stability of the financial system should be the Federal Reserve’s top priority, and noted that banks such as JPMorgan Chase are key hubs for the economy, handling trillions of dollars in cash flows every day. “They affect each other; if one has a problem, it could spread to other institutions,” Buffett said Tuesday in an interview with CNBC.
After a series of blowups in the recent credit markets raised concerns about the balance-sheet risks of banks and private credit fund assets and liabilities, investor sentiment has been hit. Buffett said that once market panic spreads, many investors may quickly pull out. (Jin Ten)
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