Ex-SVB CEO made 'fair point' in testimony -ETF CEO

STORY: Rhind said it was "interesting" hearing the ex-CEOs of failed banks First Republic, Signature and, in particular, Silicon Valley Bank say "that the Fed had communicated that inflation was going to be transitory, and interest rates were going to be lower for longer - hence there was less of a reason or of an impetus for them to hedge their interest rate risk in that environment."

Continued Rhind, "It's a fair point that the CEO of Silicon Valley Bank made because in many ways that is one of the key points over the last couple of years - that investors have had to try and make this decision, make this forecast around the expectations of Federal Reserve."