Banks are failing around the world. Could it happen here?
7am
00:00
The Federal Reserve's Hard Cap on Actual Emissions
The era of cheap money is over, and it's well beyond my competency to offer any forecasts. But whilst I think there's no grounds for panic, I think if something Wayne Swan said, which is what other weaknesses are around. It's a period of enormous readjustment. And banking regulations is one thing, but the behaviour of people is another. When panic sets in, it can spread incredibly quickly. The Federal Reserve faces a very difficult trade-off now between containing inflation, minimising financial volatility and hoping they don't blow the whole system up.
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