Is the Fed Raising Interest Rates Going to Make Everyone Whole?

I would say this is the moment the Fed blinked and we really are in the 1970s. They can borrow literally twice as much as what securities are worth on the open market against these securities as collateral. That's an example of where we're yes, if the Fed wants to raise interest rates fine it will just make everybody whole who put that betting on interest rates not happening. What I can't figure out John is does this tighten financial conditions or ease them compared with where we would be if they had not bailed out the deposit the uninsured depositors. Is there now enough of a spasm of anxiety in markets for the recession to happen?