The problem is that the Fed is trying to fight inflation while also trying to keep the banks from having to recognize the losses in their HTM portfolios. In a s

The problem is that the Fed is trying to fight inflation while also trying to keep the banks from having to recognize the losses in their HTM portfolios. In a sane world, Congress would raise taxes and cut federal spending to suck money out of the economy to fight inflation, thereby easing the need for the Fed to keep raising interest rates. Unfortunately, we don't live in a sane world. All you need is a triggering event now to cause a run on the banks, and we're going to get to relive the Savings & Loan crisis all over again. After this is all said and done, the Fed needs to really have its hands tied. No more ZIRP for a decade.