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I’m hoping they hint at pausing the rate hikes moving forward. Let the economy adapt to the higher interest climate! Nothing has “broken” other than a few overly leveraged tech heavy banks in Cali. That’s not a sign of the greater economy which is why the Fed doesn’t care.
They are missing all of the small businesses that are drowning in debt as loans have gone from 3% to 10%.
Those FED interest rate hikes caused those Banks to fail . If the FED would buy back FEDERAL DEBT instruments at the face value when issued those Banks not have been forced to show losses on the Federal debt investments on their books.
I do not think history will be kind or treat the Fed well for their performance, and their failure at trying to control the economy is dangerous and haphazard. Andrew Jackson was right …
I agree with Charles B. Fed balance sheet holds massive amount of underwater treasuries. Buying that debt back at par is immaterial to fed and would have saved the banks in an appropriate way.