Home » Celebrities » LARRY KUDLOW: Federal bank regulators were late to the party like they always are
LARRY KUDLOW: Federal bank regulators were late to the party like they always are
Larry Kudlow: Inflation is the cruelest tax of all
FOX Business host Larry Kudlow calls out the Biden administration’s economic policies following the Silicon Valley Bank bailout on ‘Kudlow.’
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 $318 billion of loans. That's a big number. Plus, another $165 billion from the Fed's two new backstop lending facilities. We haven't seen numbers like that since 2008. No, I don't think it's 2008, but large discount lending like this does suggest a lot more banks than just SVB and First Republic and Signature are getting assistance.
First and foremost, the biggest evil in this story is Joe Biden's inflation from massive spending on social welfare programs, radical climate green new deal programs, infrastructure that really went to climate-related issues. Let me quote from our friend Kim Strassel of The Wall Street Journal who will be here in a little while. This is a wonderful paragraph.
"A clean energy tech frenzy, electrical grid modifications, solar, carbon capture, battery storage, electric vehicle charging infrastructure, geothermal smart community widgets, microgrids, CO2 transport, hydro, wind, fuel cells, waste management and efficiency gains."
ONE YEAR INTO ITS INFLATION FIGHT, THE FED FACES A MURKY FUTURE