Powell has some explaining to do. Only slight concessions about strength of the labor market and improvements in inflation. By Wolf Richter for WOLF STREET. FOMC members voted unanimously today to maintain the Fed’s five policy rates, with […]
Quantitative Tightening so far has removed 41% of Treasury securities and 29% of MBS that pandemic QE had added. By Wolf Richter for WOLF STREET. Total assets on the Fed’s balance sheet dropped by $34 billion in June, […]
Money is never an object when you have a legal counterfeiting racket at the center of the economy; yet counterfeiting, provided it has monopoly power and is conducted by the “best and the brightest,” is virtually unchallenged […]
The liquidity drain of Quantitative Tightening has come entirely from ON RRPs. Reserves have lots of liquidity left to drain. By Wolf Richter for WOLF STREET. Total liabilities on the Fed’s balance sheet have dropped by $1.71 trillion […]
Higher for longer becomes formalized one meeting at a time, as projections for “longer-run” federal funds rate keep getting raised. By Wolf Richter for WOLF STREET. FOMC members voted unanimously today to maintain the Fed’s policy rates unchanged, […]
Quantitative Tightening has removed 40% of Treasury securities and 28% of MBS that pandemic QE added. By Wolf Richter for WOLF STREET. Total assets on the Fed’s balance sheet dropped by $107 billion in May, to $7.26 trillion, […]
State of the Union: A former chief economist for the Senate Banking Committee highlights how the central bank’s unaccountability plays out concretely. In a speech hosted by the American Institute for Economic Research (AIER), Thomas Hogan, the […]
JPMorgan Chase CEO Jamie Dimon on Wednesday urged the U.S. to reduce its fiscal deficit sooner rather than later, warning the issue will likely become “far more uncomfortable” if it continues to be overlooked. His comments […]
She nails it with her list of inflation-fueling factors. It parallels what Powell said more softly at the press conference. The first three months of the year have produced a nasty re-acceleration of inflation in […]
Hundreds of small and regional banks across the U.S. are feeling stressed. “You could see some banks either fail or at least, you know, dip below their minimum capital requirements,” Christopher Wolfe, managing director and […]
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