The root cause is inflation which was caused by Bidens big spending. The fed, then, had to raise the interest rates to slow down the inflation, and the banks are holding US Treasuries that they would normally sell to clients. When the interest rates skyrocketed (again, thanks to Biden and the democrats), those bonds were now worthless.
The root cause is inflation which was caused by Bidens big spending. The fed, then, had to raise the interest rates to slow down the inflation, and the banks are holding US Treasuries that they would normally sell to clients. When the interest rates skyrocketed (again, thanks to Biden and the democrats), those bonds were now worthless.