Treasury General Account Plunges by $100 Billion in One Week. How Close to Zero Will it Get? by Wolf Richter • Sep 30, 2021 • 112 Comments “Debt Ceiling Farce 2021”: S&P threatens to downgrade the US by 20 notches to “D” if it defaults, which would be a hoot.
“Transitory” is the New Spandex: Powell Admits it, Still Denies its Cause. Why this Inflation Won’t Go Away on its Own by Wolf Richter • Sep 29, 2021 • 206 Comments Blames tangled-up supply chains but not what’s causing supply chains to get tangled up: The most grotesquely overstimulated economy ever.
When Fed Doves Get Hawkish… Balance Sheet Runoff Should Start at End of Taper, First Half 2022: Bullard by Wolf Richter • Sep 28, 2021 • 114 Comments “Inflation could be a lot more persistent than we had hoped.”
10-Year Yield Jumps to 1.43% as Bond Market Reacts to what the Fed Said Yesterday about Tapering, Rate Hikes, and Inflation by Wolf Richter • Sep 23, 2021 • 170 Comments The Fed is getting nervous about inflation. “Temporary” doesn’t cut it anymore. And the bond market is getting a whiff of it.
As Overnight Reverse Repos Spike to Record $1.28 Trillion, Fed Doubles Per-Counterparty Limit, Keeps Adding Counterparties by Wolf Richter • Sep 22, 2021 • 147 Comments This mega-liquidity suck has mopped up cash amounting to 10 months of QE.
Home Sales Fall from Year Ago, Prices Down for 2nd Month, Price Reductions Jump: This “Deceleration” Despite Massively Negative Real Mortgage Rates by Wolf Richter • Sep 22, 2021 • 188 Comments But now the Fed is planning to end QE.
The Process of Ending Massive Money Printing Has Started by Wolf Richter • Sep 9, 2021 • 261 Comments ECB second giant to taper. Bank of Japan already ended QE. Bank of Canada shed 15% of assets. UK, Australia are tapering. New Zealand quit cold turkey
The Everything Shortage & Price Hikes Plastered All Over Fed’s “Beige Book” by Wolf Richter • Sep 8, 2021 • 180 Comments “We need lower consumer demand to give supply chains time to catch up… recover efficiency… and break this vicious circle”: CEO of Maersk’s APM Terminals, one of the largest container port operators.
THE WOLF STREET REPORT: The Most Monstrously Overstimulated Economy & Markets Ever by Wolf Richter • Aug 22, 2021 • 153 Comments The Fed will trim back its stimulus, but it’s already too late, and it’ll be too little and too slow.
Who Bought the $5 Trillion Piled on the Monstrous US National Debt in 15 Months? by Wolf Richter • Aug 17, 2021 • 146 Comments A burning question in these crazy times.
