US Banking system remains "sound and resilient"

A direct quote from the minutes of the March 2023 Federal Reserve Open Market Committee meeting is:

Participants agreed that the US banking system remained sound and resilient.

Does this give you a warm and fuzzy feeling? Is the above quote the new "inflation is transitory" meme? I humbly ask this esteemed group for its insightes.

Thank you in advance for the well thought-out, civilized and insightful discussion that I'm sure will ensue.

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irishmolly72 · 56-60, F

Joe Biden's thinks the Taylor Rule is:

https://www.youtube.com/watch?v=MMfxTcSVIiw

Kamela's thoughts:

The Taylor Rule:
https://www.investopedia.com/terms/t/taylorsrule.asp