I Now Track the Most Important Measure of the Fed’s Economy: the “Wealth Effect” and How it Impacts Americans Individually by Wolf Richter • Apr 12, 2021 • 333 Comments The Fed provides the data quarterly, I dissect it at the stunning per-capita level.
US National Debt Passes $28 Trillion, +$4.7 Trillion in 13 Months. General Treasury Account Down by $480 Billion in 2 Months, $620 Billion to Go by Wolf Richter • Apr 4, 2021 • 268 Comments What does it mean for the markets that the government now spends the proceeds from debt sales last spring that the Fed had monetized back then?
QE During the “Everything Mania”: Fed’s Assets at $7.7 Trillion, up $3.5 Trillion in 13 months by Wolf Richter • Apr 2, 2021 • 172 Comments But long-term Treasury yields have surged, to the great consternation of our Wall Street Crybabies.
First Signs that Surging Mortgage Rates Are Dialing Down the Heat under the Housing Market by Wolf Richter • Mar 21, 2021 • 142 Comments The Fed smiles upon rising long-term Treasury yields as sign of economic growth and rising inflation expectations.
Powell in WSJ Op-ed: “I Truly Believe that We [the Rich] Will Emerge from this Crisis Stronger and Better, as We [the Rich] Have Done so Often Before” by Wolf Richter • Mar 19, 2021 • 338 Comments Gimme a break, will ya? Wherein I rant, supported by the Fed’s own data.
What’s Behind the Huge Spike in Reserves, a Liability on the Fed’s Balance Sheet? by Wolf Richter • Mar 12, 2021 • 179 Comments The New Regime at the US Treasury Department.
Yellen Coddles Up to Powell on Rising Long-Term Yields as a Welcome Sign of Recovery. Wall Street Crybabies Not Amused by Wolf Richter • Mar 6, 2021 • 206 Comments To let some hot air out of the markets? As long as it isn’t “disorderly.”
Fed’s QE: Assets Hit $7.6 Trillion. Long-Term Treasury Yields Spike Nevertheless, Wall Street Crybabies Squeal for More QE by Wolf Richter • Feb 26, 2021 • 182 Comments From crisis to crisis, and even when there’s no crisis.
Who Bought the $4.5 Trillion Added in One Year to the Incredibly Spiking US National Debt, Now at $27.9 Trillion? by Wolf Richter • Feb 17, 2021 • 173 Comments Someone had to buy every dollar of this monstrous debt. Here’s Who. The Fed isn’t the only one. But China continues to unwind its holdings.
10-Year Treasury Yield Hit 1.21%, More than Doubling Since Aug. But Mortgage Rates Near Record Low. And Junk Bond Yields Dropped to New Record Lows by Wolf Richter • Feb 13, 2021 • 266 Comments Bond Market Smells a Rat: Inflation. So the Fed seems OK with rising long-term Treasury yields.
