The press release is pretty telling about how bad it is. From the second paragraph:
> The U.S. banking system is sound and resilient.
That is something like saying "the house is not falling down" - you don't need to say it if the house isn't at risk of falling down. I think the statement is true right now, but they are hoping to stem the bleeding on bank balances.
From later:
> Russia's war against Ukraine is causing tremendous human and economic hardship and is contributing to elevated global uncertainty.
While true, it's hard to think that they aren't planning to set up a scapegoat here.