A Bleak Day For Banks
EDITOR'S NOTE: The incompetence and negligence of the Federal Reserve since the 2008 financial crisis under the leadership of Bernanke, Yellen, and Powell is beyond comprehension. Their reckless policy of keeping interest rates artificially low for an extended period of time has brought us to the brink of financial disaster, and now we are paying the price in the form of a collapsing US financial conditions index and multiple bank failures.
It's painfully obvious that the Fed has no clue what they're doing, and their new motto seems to be "let's see how much damage we can do before we get fired." Resident Biden's empty promises about banks are just adding insult to injury, as bank stocks continue to plummet and investors are left to suffer the consequences of the Fed's gross incompetence. It's time for a major overhaul of the Fed's leadership and policies before they completely destroy our economy.
The Fed (Bernanke, Yellen, Powell) kept rates too low for too long (their new moto?), and hell is now being paid.
US financial conditions index collapsed on the 3 bank failures … so far.
Source: Cofounded Interest
Despite what Resident Biden said about banks, bank stocks fell again today.
Source: Cofounded Interest
Source: Cofounded Interest
Originally published on: Cofounded Interest
