Meme Stocks and Archegos: Fed Calls Out Financial Weak Spots

The Federal Reserve painted a picture of a generally stable financial system, but one bubbling with risk-taking that merits attention.

By Jeanna Smialek

The Federal Reserve warned about financial stability risks emanating from frothy stocks and debt-laden hedge fund bets in its twice-annual report on potential vulnerabilities in the system, pointing to the rise of so-called meme stocks as one sign that risk-taking could be getting out of hand.

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