Gate News update, March 31, Warren Buffett warned that as links between the banking system and non-bank institutions have become increasingly tight, he has begun to see signs of fragility in the financial system. Buffett said in an interview with CNBC on Tuesday that the stability of the financial system should be the Federal Reserve’s top priority, and he pointed out that banks such as JPMorgan Chase are key hubs for the economy, processing trillions of dollars in funds flows every day. “They influence each other; if one develops a problem, it could spread to other institutions,” Buffett said. After a series of defaults in the recent credit markets sparked concerns about the balance-sheet risks for banks and private credit funds, investor sentiment has been hit. Buffett said that once market panic spreads, many investors could quickly pull out.
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