Powell & Brainard Suddenly Make Inflation #1 Priority in their Thank-You Statements by Wolf Richter • Nov 22, 2021 • 302 Comments Looks like the start of a U-Turn on inflation. 2-year & 10-year yields jump.
After Driving Corporate Bond & Junk-Bond Rally to Lowest Yields Ever, Fed Ends Bailout SPV with $513 Million Profit, Sends 90% to US Treasury by Wolf Richter • Nov 19, 2021 • 99 Comments By mid-September, the junk bond market started heading south.
Stock Market Leverage Spikes, Margin Debt Up 42% YoY. Fed Warns about High Leverage Ratio of “Younger Retail Investors” by Wolf Richter • Nov 18, 2021 • 165 Comments “Potentially Destabilizing Outcome could emerge if elevated risk appetite among retail investors retreats rapidly.” But what the heck.
Since 2008, Monetary Policy Has Cost American Savers about $4 Trillion by Alex J. Pollock • Nov 17, 2021 • 176 Comments After 13 years with on average negative real returns to savings, it is time to require the Fed to address its impact on savers.
Inflation Becomes a Political Bitch for Democrats as People’s Mood Sours amid Biggest Fed-Fueled Boom for the Wealthy by Wolf Richter • Nov 14, 2021 • 254 Comments Time to nominate some hawks to the Fed’s Board of Governors.
The Fed Lost Control of the Inflation Narrative by Wolf Richter • Nov 4, 2021 • 247 Comments Mega-policy decisions to boost demand. Now mega-consequences.
THE WOLF STREET REPORT: The Fed Lost Control of the Inflation Narrative by Wolf Richter • Oct 31, 2021 • 166 Comments Mega-policy decisions to boost demand. Now mega-consequences.
Fed’s Assets from Crisis to Crisis to Raging Inflation: Balance Sheet Update by Wolf Richter • Oct 28, 2021 • 125 Comments Assets at $8.6 trillion. QE faces Tapering. Already gone: Swaps, repos, corporate bonds, bond ETFs, corporate paper, money market bailouts.
While the Fed Still Fuels the Fire, the Bank of Russia Throws Shock-and-Awe Rate Hikes at Raging “Persistent” Inflation, But US Inflation Not Far Below Russia’s by Wolf Richter • Oct 22, 2021 • 154 Comments These mega rate hikes likely have Putin’s support because inflation can become a political bitch.
“Wage Pressures,” “Robust Wage Growth,” “Wage Inflation,” even “Wage War” Plastered All Over Fed’s Beige Book by Wolf Richter • Oct 20, 2021 • 148 Comments Wages are heating up. And it’s also now starting to show up in the data: The wage component in the fuel for persistent big inflation.
