The Fed's Problem With the Stock Market

The Fed doesn't care what the Treasury has to do as far as their budget is concerned. They're like, we have to get inflation down. The Treasury's job is to manage the amount of money that Congress is spending. That's not our issue. And so the question is, Dave, do we draw down because of just their straight vanilla and tougher session that we're heading into? Or do we have another credit event? If they have to step in like they did with Silicon Valley, then it's a whole other story.

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