To say they did a good job during covid can only be determined through history… many would disagree. They acted as aggressively as possible to remedy a short t

To say they did a good job during covid can only be determined through history… many would disagree. They acted as aggressively as possible to remedy a short term problem, which just created longer term problems. Its easy to throw money at a problem and worry about the consequences later. SVB wouldn’t have failed if the Fed hadn’t artificially suppressed rates to the extent they did, for example. And Id venture there’s a lot more to come on the economic front. Many assets became extremely overvalued which makes the larger downside on price more disruptive… commercial real estate is a big one to watch in the coming years If inflation remains entrenched we may require a GFC style hard landing to quench it. The fed did head off an immediate disaster through suppressing the rapidly widened credit spreads, but everything after that will likely be remembered as a failure