Villain of the Banking Crisis Is the Biden Inflation

It was caused by spending on social programs and diverting infrastructure outlays to schemes to control climate.

AP/Evan Vucci
President Biden at the White House, March 17, 2023. AP/Evan Vucci

So the weekend is coming up, and my best advice to anyone interested in a potential banking crisis is to keep an eye on the news. We learned today from one of the Federal Reserve statistical sheets, called H.4.1, that the Fed discount window loaned out $168 billion for the week — the most ever for a single week — plus another $12 billion in loans went out from the new Fed-Treasury backstop lending facility and the Fed loaned $148 billion to the FDIC. 

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