"Banks Exploit Fed's Rescue Program for Easy Profits"

Banks are taking advantage of the Fed's Bank Term Funding Program (BTFP) by borrowing at a rate tied to future interest-rate expectations and then earning from parking the funds at the central bank as overnight deposits. The program, set to expire on March 11, has seen increased usage as investors forecast multiple Fed rate cuts. Despite some analysts attributing the increase to stress on regional banks, it's actually banks seizing the opportunity for free money. In other news, the US debt has surpassed $34 trillion, with interest exceeding $1 trillion, and a spending deal has been reached, though it does not address border funding.