The Fed's Job in Breaking Inflation

We're in a period to steal a phrase of watchful waiting as far as the banking system goes but potentially a more hopeful outcome than what we saw in 2008 and 2009. There could be wobbles at the edges which tell me that banks will remain conservative in their lending if you're leveraged at 10 or 12 to 1 like a commercial bank. Will some institutions fail? Sure. Some investors made bad bets. Absolutely. The distance between that and a catastrophic financial system led downturn is massive. I do worry about the idea that we will somehow lower rates, which is built into some of the yields curve. That seems a little too soon.