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The Fed Is Running Two Policies at Once

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The Fed Is Running Two Policies at Once
The U.S. Federal Reserve building is seen past caution tape in Washington, D.C. on Sept. 19, 2022. Stefani Reynolds/AFP via Getty Images
Jeffrey A. Tucker
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Commentary

Last week was a grim reminder that the economic chaos of the lockdown period is far from over. Markets discovered that several major banks, which hardly anyone truly suspected were in trouble, faced closure and quick rescue for fear of contagion. The trouble was the same in each case: too many assets held in fixed-rate debt instruments in a period of rising rates.

Jeffrey A. Tucker
Jeffrey A. Tucker
Author
Jeffrey A. Tucker is the founder and president of the Brownstone Institute and the author of many thousands of articles in the scholarly and popular press, as well as 10 books in five languages, most recently “Liberty or Lockdown.” He is also the editor of “The Best of Ludwig von Mises.” He writes a daily column on economics for The Epoch Times and speaks widely on the topics of economics, technology, social philosophy, and culture. He can be reached at [email protected]
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