Only Treasury securities and mortgage-backed securities (MBS) are still active.
Fed’s ETF holdings fell for second month, corporate bond holdings barely ticked up: This “$750 billion” SPV is over before it really got started. But the hype had been huge.
A lump-sum payment in digital dollars for all Americans during a recession or to raise inflation, as an alternative to QE and negative interest rates, which have failed (transcript of my podcast).
A lump-sum payment in digital dollars for all Americans in a recession or to raise inflation as alternative to QE & negative interest rates, which have failed
Trillions flying by so fast, it’s hard to even count them. But somebody had to buy these Treasury securities. And it wasn’t just the Fed. Here’s who.
SPVs to nowhere.
Still a lot of fawning coverage, but big dissenters are now given prominent spots, and loaded questions are used to politely hammer Powell into telling obvious nonsense.
The Fed stepped away from the market after its jawboning created the biggest bond bubble ever.
“Two steps forward, two steps back”: Fed’s new song and dance, no?
Easy money is a curse for capitalism (transcript of my podcast).