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Danielle DiMartino Booth: A Banking Panic Makes The Fed’s Job More Difficult
Forward Guidance
Risk Management Is One Thing
If Silicon Valley Bank made a mistake, it did not hedge its interest rate risk. It parked $100 billion in very interest rate sensitive sectors. And it stood on its hands while the Federal Reserve increased rates by 475 basis points. The best analogy is you're trying to buy insurance on your home after it's burned to the ground. All states not going to underwrite that policy ain't happening.
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