Federal Reserve

Fed Balance Sheet QT: -$15 Billion in September, -$2.38 Trillion from Peak, to $6.59 Trillion

by Wolf Richter • Oct 2, 2025 • 70 Comments

The Standing Repo Facility got a bit of use on Sept. 15 (corporate tax day) amid minor liquidity strains in the repo market.

Status of US Dollar as Global Reserve Currency: USD Share Plunges to Lowest since 1994, as USD Exchange Rates Tank, Central Banks Diversify

by Wolf Richter • Oct 2, 2025 • 51 Comments

The rise of the “non-traditional reserve currencies.”

This Fed Meeting Must Have Been a Circus

by Wolf Richter • Sep 17, 2025 • 207 Comments

Amid only one dissent, FOMC Cuts by 25 basis points. “Dot Plot” sees 50 basis points in additional cuts in 2025. Risks shift to labor market. QT continues.

Money-Market Funds & CDs: Americans Grow their Huge Piles of Interest-Earning Cash Further despite Lower Yields

by Wolf Richter • Sep 12, 2025 • 110 Comments

Household money-market funds surged, large CDs also surged. But small CDs are the hot money; they flee when yields drop.

Scenario of a Triple Whammy for Long-Term Treasury Yields

by Wolf Richter • Sep 7, 2025 • 116 Comments

The Treasury market counts on the tariffs to slow the supply of new debt and could throw a hissy-fit if they end while the Fed cuts rates into accelerating inflation.

Bessent Blasts the Fed for QE, its “Perverse Incentives” for Fiscal “Irresponsibility,” “Wealth Effect” Policies, “Class and Generational Disparities,” Failure on Inflation… Oh I So Agree

by Wolf Richter • Sep 5, 2025 • 216 Comments

“This harmful cycle concentrated national wealth among those who already owned assets”: Bessent.

Fed Balance Sheet QT: -$39 Billion in August, -$2.36 Trillion from Peak, to $6.60 Trillion

by Wolf Richter • Sep 4, 2025 • 42 Comments

Compared to the size of the economy, the Fed’s assets are now down to 21.8% of GDP, where they’d first been in 2013.

ON RRPs Drop to Near-Zero $17.9 Billion, Liquidity Flow into Markets Over, while TGA Refilling Drains Liquidity from Markets

by Wolf Richter • Sep 3, 2025 • 59 Comments

Liquidity now begins to drain out of the markets for the first time since the debt ceiling.

30-Year Treasury Yield Stuck Near 5% on Inflation Fears, but 6-Month Yield Drops, Sees Rate Cuts, Long End of Yield Curve Steepens a Lot, Mortgage Rates still over 6.5%

by Wolf Richter • Aug 30, 2025 • 129 Comments

The bond market’s reaction to cocktail of inflation fears, potentially lax Fed, and Mississippi River of new debt flowing into the market.

Still Waiting for Lower Prices, Higher Incomes, Lower Rates: Mortgage Rates Tick Up, Demand in Deep Freeze, Supply Surges

by Wolf Richter • Aug 27, 2025 • 64 Comments

This buyers’ strike, which started in mid-2022, completes its third year.

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