Minneapolis Fed President Need Kashkari on Wednesday said regulators should run a new high inflation stress test for banks.
U.S. government bank regulators should run a new “high-inflation” stress test to identify at-risk banks and be able to better gauge their capital shortfalls, said Minneapolis Federal Reserve President Neel Kashkari on Wednesday.
In his essay, Kashkari said the outlook for some regional banks depends “largely” on what happens to inflation. “In this scenario, policymakers could be forced to choose between aggressively fighting inflation or supporting banking stability,” Kashkari said.During the pandemic, banks took in new deposits as households and businesses received government stimulus payments. Banks used the funds to purchase Treasury securities with low interest rates.
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