James Bianco, president of research firm Bianco, said the Fed's actions were another form of quantitative easing that was completely out of context during the coronavirus and 2008 financial crisis. Coupled with record discount window borrowing and balance sheet expansion, the Fed is becoming increasingly loose. Only two scenarios are expected to happen in the future, one is that the U.S. authorities act too slowly, and the other is that the "financial crisis" worsens. If the authorities act quickly enough to contain the crisis, massive stimulus measures mean that the United States will face more serious inflation problems in the second half of 2023 and 2024. The best option is for each customer to decide for themselves to transfer hundreds of billions of dollars in deposits back to regional banks. As long as funds continue to flow out of regional banks, there will always be only bad and worse options. (Jinshi)