#398 w/Allison Schrager - "The Horrible, No Good Economy: A Primer”
The Fifth Column
Why the Fed Didn't Test for Rates Going Up?
The Fed didn't test for rates going up, or at least not a lot. We just got really used to 40 years of very slow, stable interest rates and people just became convinced that this was the norm. So we can look at Silicon Valley Bank and be like, why are we buying these bonds? But you know what? Like the Fed didn't think the rates would go up either. And honestly, I've always been kind of weird about interest rates. Like I've always being obsessively rising interest rates.
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