PANews reported on March 30 that Federal Reserve Chairman Jerome Powell stated on Monday that the Fed is closely monitoring potential problems in the private sector. Speaking at Harvard University, he said that regarding private lending, "It represents a relatively small portion of a large asset system, and we are watching this area very closely." Powell did not specify the current level of risk in this area. He added, "You don't hear anyone say there's no problem here, because that would be a bad omen."

Federal Reserve Chairman Jerome Powell: We do not currently see any contagion risk in private lending. The conditions are not yet in place for it to evolve into a broader systemic event.