[NotAnEconomis23]

Employment is a lagging indicator. Waiting until bank failures cause employment to crater is too little, too late.

I agree that many of the bank stocks are probably over valued. They're not going to rebound quickly.

The Fed can't control inflation. They can try to influence demand of goods and services by controlling interest rates, QE, etc. They cannot make up for the commodities supply deficiencies cause my Russia/Ukraine conflict. (Reduced supply of grains, oil, metals, etc.) Reduced supply also increases inflation.

We just had a run on the deposits of several banks. Next is a run on the stocks for the banks. (Financial institutions make up 7% of GDP) There are many institutions and retail investors who just received a message from Yellen and Powell that their investments are not safe. Even the big banks are falling. Migrating deposits to large banks will not stop the run on financial equities. It is already having a cascading effect on the broader market.