I wonder if the folks that work for the Federal Reserve are getting tired. They are in the throes of the economy every day, constantly looking at the bigger picture and trying to find ways to change things and improve on what is happening. However, the phrase “enough is enough” is a good one for the Federal Reserve regarding many different aspects of what they do.
They have been constantly scrutinizing banks, revamping policies, and having to look at interest rates and other financial figures so that they can issue forecasts on the economy along with news to the citizens are really curious as to what is happening.
Most recently in the news, the Federal Reserve made mention of its interest in scrutinizing the 19 largest bank holding companies….again. These banks are required to submit their plans for the coming year, and whether or not they can be stable under the mandate of the central bank. This isn’t going to be an easy task because they are going to be required to show how they can withstand the economic battle regarding real estate and how it affects their business, as well as overall affects from the economy as a whole.
The Fed’s are claiming that this is simply one way of showing that they are trying to elevate the level of responsibility and accountability of the banks. Let’s just hope that is the truth and that everything sticks.
-Mayer Dallal
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