‘Really it’s about getting the labor market back and getting it in shape. That’s been our major focus. I would say if we were to hold back because…we think asset prices are too high, others may not think so, but we just decided that that’s the case, what would happen to those people? What would happen to the people that we’re actually, legally supposed to be serving? We’re supposed to be pursuing maximum employment and stable prices, and that’s what we’re pursuing.‘     Federal Reserve Chairman Jerome Powell, June 10th 2020. Not an unusual sentiment from policy makers, but is it … Continue reading Risk Update: June 2020 – NBFIs, where the tails are hidden.