Even as the second, third, and fourth largest bank failures in U.S. history have unnerved financial markets in the past two months, the Biden administration keeps adding more stressors to the mix.
Two new stressors come courtesy of the Federal Housing Finance Authority. One is already receiving copious criticism, but the other, more technical one has gone largely unnoticed. Both are misguided and should be reversed – along with a plethora of other regulatory and executive actions that are endangering the national economy.