Interbank Market News Scan: Where bitcoin, foreign exchange, Treasurys, and Fed administered rates stand at 10:23 am EST.

30-Day Federal Funds Options (June 2023 ZQM3): 94.92 Fed Funds Target Range: 5.00-5.25% Effective Federal Funds Rate: 5.08% Interest on…

The Community Reinvestment Act not an example of political outcome for blacks

Black politicians concerned about protecting their communities via banking should have been advocating that the Federal Reserve increase rates hard and fast. While the increase in rates would have been accompanied by a decrease in house prices, non-blacks would have thought twice about buying up black neighborhoods while black homeowners using data evincing falling values could have petitioned for lower property taxes based on those falling values.