Is First Republic Bank Next to Go?
Real Vision: Finance & Investing
00:00
Will This Bank Muthdown Test the Fed's Resolve?
Jared Bernstein: For the Fed to hike rates in this environment is absolute lunacy because they would be doing the exact same thing that they did over the last 12 months. In the 70s, we had a Fed chair, his name was Arthur Burns,. And he was operating in a political climate very similar to ours today. We're in a very similar political climate where the way that we make a trade off between inflation and unemployment is heavily skewed towards unemployment. So I think the risk is that the Fed is going to be very dovish as a bias.
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