The Fed's Paper Losses Matter

Powell assured the US Senate that the banking system was sound resilient. I mean, if it wasn't for the government propping the banks up right now, that we would already had a complete implosion. We've already had some of the biggest bank failures in history, you know, this year. And so he said, what about that? Powell basically shrugged it off and said, well, it's just a paper loss. Well, it does matter because it matters to the solvency of the bank.