Fiscal Collapse Accelerates
In case you thought anybody in Washington was driving this thing, they are not. It’s official: the Department of Treasury is now issuing debt at pandemic levels. It’s worth noting the pandemic record was double the […]
In case you thought anybody in Washington was driving this thing, they are not. It’s official: the Department of Treasury is now issuing debt at pandemic levels. It’s worth noting the pandemic record was double the […]
Quantitative Tightening has removed 37% of Treasury securities and 27% of MBS that pandemic QE had added. By Wolf Richter for WOLF STREET. Total assets on the Fed’s balance sheet fell by $99 billion in March, to $7.44 […]
By Wolf Richter for WOLF STREET. It was Minneapolis Fed President Neel Kashkari’s job today to say out loud what we’ve said here at WOLF STREET in the comments for a while, and what others have said, and […]
Daily Standup Top Stories Buttigieg rejects critics of EV future: Like people in 2000s saying we could have landlines forever April 3, 2024 Mariel Alumit Transportation Secretary Pete Buttigieg rejected criticism of the Biden administration’s push for America […]
Billionaire hedge fund manager Steve Cohen said Wednesday that it will be difficult for the Federal Reserve to get inflation back down to its 2% goal. “The Fed thinks it’s eventually going to come down to a […]
Biggest Drunken Sailors of all. Average interest rate on the Treasury debt spiked but is still only half of what it was in 2001. By Wolf Richter for WOLF STREET. Interest payments as a percent of tax receipts is […]
By Wolf Richter for WOLF STREET. The core PCE price index, the inflation index that the Fed is focused on and refers to all the time, was revised up today for January to an annualized month-to-month growth rate […]
Reserves, Domestic ON RRPs, Currency in Circulation, the TGA, and official foreign RRPs determine how far QT can go. By Wolf Richter for WOLF STREET. The Fed has been talking a lot about its liabilities recently, including Powell […]
Raises longer-run rate projection (higher for longer), and projections for inflation and GDP in 2024. By Wolf Richter for WOLF STREET. FOMC members voted unanimously today to maintain the Fed’s five policy rates, with the top of its […]
Treasury QT will naturally slow in June 2025 when the Fed runs out of T-bills. Fed governors have teased us with interesting options. By Wolf Richter for WOLF STREET. The Fed has started laying out some basic principles […]
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