Powell on the New Hawkishness in the Dot Plot and on Inflation: “We See that it Tells Us that We Need to Do More” by Wolf Richter • Jun 14, 2023 • 225 Comments Core inflation “has not really moved down. It has not reacted much to our rate hikes. We’re going to have to keep at it.”
In a Very “Hawkish Skip,” the Fed Keeps Rates at 5.25% Top of Range, But Sees Two More Rate Hikes this Year. QT Continues by Wolf Richter • Jun 14, 2023 • 167 Comments “… to assess additional information and its implications for monetary policy.”
Fed’s Balance Sheet Plunged by $348 Billion in the 10 Weeks since Peak Bank Crisis, and by $580 billion since QT Started by Wolf Richter • Jun 1, 2023 • 139 Comments QT on track, bank liquidity measures unwind.
Six-Month Treasury Yield Begins to Price in One More Rate Hike by Wolf Richter • May 20, 2023 • 130 Comments Either mid-June or possibly in July.
Despite Fed Tightening and Bank Collapses, It’s Still an Astoundingly Loose Financial Situation in La-La-Land by Wolf Richter • May 13, 2023 • 207 Comments After years of money printing and pandemic stimulus, it’s hard to wring all this liquidity out of the financial system?
The Fed’s Interest Rates Are still Fueling Inflation rather than Dousing it, and People Getting Used to this Inflation by Wolf Richter • May 11, 2023 • 222 Comments Turned upside-down since late 2008 with QE and interest rate repression, it still hasn’t been turned right-side up.
Fed’s Balance Sheet Plunges by $230 Billion in 6 Weeks, Biggest such Plunge in 14 Years by Wolf Richter • May 4, 2023 • 103 Comments Massive gyrations on the balance sheet after FDIC’s take-down of First Republic, sale of its assets to JP Morgan, and FDIC’s loan to JPM.
Powell Swats Down Rate Cut in 2023, Purposefully Leaves in Doubt a “Pause” for June Meeting by Wolf Richter • May 3, 2023 • 132 Comments “We’re going to be looking at those factors to determine whether there is more to do.”
Fed Hikes by 25 Basis Points, to 5.25% Top of Range. Says, “Extent to which Additional Policy Firming May be Appropriate,” instead of “Pause.” QT Continues by Wolf Richter • May 3, 2023 • 183 Comments The rate is now where it last was during the 14-month-long pause from June 2006 to August 2007.
Fed’s Balance Sheet Plunges $171 Billion in Five Weeks since Peak Bank Bailout as QT Continues and Liquidity Support Cools by Wolf Richter • Apr 27, 2023 • 156 Comments First Republic, is this you?
