Former Barclays CEO Bob Diamond: The Clarity Act is really good for banks over time

• Treasury yields are pushing higher, reflecting a strong economy and persistent inflation, with expectations for further Fed rate hikes.
• Bob Diamond criticizes the Fed's 'forward guidance,' suggesting it's unnecessary when the Fed's dual mandate of price stability and full employment is clear.
• The Clarity Act and regulation of digital assets are seen as positive for banks, driving innovation, 24/7 trading, and instantaneous settlement.
• Large financial institutions like JPMorgan, Morgan Stanley, Goldman Sachs, and Bank of New York are expected to be significant beneficiaries from these trends.

Bob Diamond, former Barclays CEO, discusses rising Treasury yields as a reflection of a strong economy and persistent inflation, anticipating further Fed rate hikes. He criticizes the Fed's 'forward guidance,' advocating for a focus on its dual mandate. Diamond believes the Clarity Act and regulation of digital assets will be beneficial for banks and innovation in the financial sector.