Fed Shamelessly Gives Warnings of Vague and Ominous Risks While Saying Don't Expect Us to Do Anything About It
If anyone in the Congressional committees that oversee the Fed had an operating brain cell, they should flay the Fed for its indefensible posture of ignorance and powerlessness. I have to confess to being too annoyed to read the underlying document, its semi-annual report on financial stability and am so instead relying on what I take to be a fair-minded recap in the Financial Times, Fed warns of hidden leverage lurking in financial system. What I find most disturbing is the rank dishonesty of the Fed, in what looks to be deliberate mischaracterization of the Archegos implosion, made worse by...
Source: nakedcapitalism.com