Interbank Market News Scan: Fed funds, bitcoin, and foreign exchange rates at 9:40 am EST

The takeaway: The role of government is to feed the bond markets … Markets are not the creation of people. … More

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.