This will continue to send borrowing rates up for us peasants that do not have access to US treasury buybacks. Raising rates wont hurt banks now that they have exposure to treasury buybacks since March of this year so the conventional reason the price of money would need to be reduced by the Fed is irrelevant. But it will continue to make us all non-bank entities poorer. Inflation is only 'conquered' once we have taken a massive hair cut, with limited risk exposure to the existing financial system.
30 October 2023
1 min read
