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Why Is the Recession Taking So Long to Show Up? | Bob Elliott
Hidden Forces
The Fed's Aggressive Rate Hiking Cycle
So much of the expansion was financed by fiscal stimulation coming out of COVID, right? That didn't require households to borrow a bunch of money in order to increase their demand. So does that explain why the Fed was able to get away with so many rate hikes? And we didn't see the expected effect on the economy as quickly as people were looking for because it's an income driven versus a credit driven cycle? That's exactly right. But one area where we have seen rising interest rates and shrinking liquidity have an effect has been with regional banks. One of the systemic explanations for those failures had to do with this duration mismatch between the short-term cost of funding and the long-term
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