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Fed Downplays Bank Crisis As Another Bank Teeters | Jim Bianco
Forward Guidance
The Fed's Attention to Credit Tightening
Jim Boulden: The Fed does seem to understand that a credit tightening has already begun. As deposits leave the bank, and as the bank continues to shrink, their ability to hand out loans is going to be in question. He says people won't pick up their phone and spend 30 seconds on their bank app to move their money to a higher yield. That this idea that things have stabilized is you're saying people are irrational, he says.
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