Federal Reserve Database Outage Sparks Concerns Over Staffing Cuts

A temporary outage occurred at the National Information Center, a database used by the Federal Reserve to monitor banks.

The outage happened last month and has raised concerns among lawmakers about the impact of staffing cuts on the Fed's regulatory capacity.

WSJ reports that a top Senate Democrat is questioning whether the Fed's recent cuts in regulatory staff have compromised its ability to maintain critical systems, citing the National Information Center's brief shutdown as evidence.