The Fed's Proposal for a Higher Inflationary Regime

Two weeks ago, Chairman Powell's comes off his second day of testimony on Capitol Hill. Here we are talking about rate cuts and whether they hike or not at all today. I think the way they'd like to see this go is by providing very ampe, as Priya said, very ample and generous liquidity. Many of the banks that we're talking about are probably going to have to slow their loan growth in order to have a more liquid balance sheet.