Isn't the fundamental issue here about banks not having raised their the interest rate that's paid to depositors as the Fed has raised those rates? E.g. Bloomberg Feb 23 20324:

> "The Federal Reserve has been raising benchmark borrowing rates at the fastest pace in decades, but the interest rate paid out to millions of people with bank accounts is still stuck at almost zero. According to data from Bankrate, the average interest rate on savings accounts is just 0.23%. So what's going on?"

It's investment capitalism continuing to transition towards a monopoly model, what else?

> "Dougherty said a lack of competition within the financial industry is what allows banks to take more money from their customers without customers getting fed up and moving their money to a competitor or out of the banking system altogether."

https://thehill.com/policy/3656474-lawmakers-slam-big-bank-c...

Solution: have the Fed offer the public personal savings accounts at the listed Fed rate, perhaps with some limited restrictions on withdrawals.