I don't think it was obvious that rates had to go up /faster than they had ever increased in history/. And what were banks supposed to do? They make money by t

I don't think it was obvious that rates had to go up /faster than they had ever increased in history/. And what were banks supposed to do? They make money by taking deposits and owning debt. Are they supposed to just shut down because there's no zero risk interest earning debt out there? Or charge depositors for holding their money? This is entirely the Fed's fault if you ask me.