The Fed is essentially a trade association of the banking industry which is expected to make decisions which, assuming the economic swings are not too extreme, will provide a suitable environment for banks to maximize their profits. That encourages leverage and the facilitation of banks having the ability to transfer their risks. Low interest rates foster this environment and its only when inflation raises its head (frequently a function of fiscal, rather than monetary decisions) that the Fed is forced to take extreme actions.
It is my expectation that, unless there is either a debt default crisis or a deflationary crisis, US banks will be surprisingly profitable despite inflation.
Jeff