Comments by "Daniel Bradford" (@Falconlibrary) on "Fed Chair Powell Addresses Banking Crisis, Rate Hikes" video.

Powell had to make a choice: protect asset values or fight inflation. He can't do both. He's decided to protect asset values by bailing out uninsured depositors and to promise to continue doing so indefinitely. Which means throwing trillions more into an already overheated economy. Which means 6% inflation is with us for the time being, and double-digit inflation within a year or so. Nothing is more ruinous for a society than inflation, which is why 2% was always the target. Senator Warren was right about Powell: he had two jobs, overseeing the banking system and monetary policy, and he's failed spectacularly at both.
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