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NYMTZ - Inflation And Panic At The Federal Reserve
New York Mortgage Trust Inc. 7.000% Series G Cumulative Redeemable Preferred Stock $0.01 par value per share
The probability of a mistake from the Federal Reserve increased.
Rather than relying on market prices, the Federal Reserve relies on the prices that were paid. Seems reasonable, but the prices paid could be under old contracts.
By ignoring clear signs about changes in market prices, the Federal Reserve was late to recognize how prices were actually changing.
Now the Federal Reserve is ready to double down on their dumb mistake by ignoring that some major market prices already stabilized.
These mistakes create increased volatility in the bond markets and additional fear for investors, as they contend with the risk of the Federal Reserve "doing something" inappropriate for the situation.