The Fed did. Nearly everyone did. Even China nibbled again. Here’s who holds that monstrous $28.1 trillion US National Debt.
Are Americans finally figuring it out as they’re paying down their credit cards by record amounts? So far, $25 billion a year in lost interest income for the banks!
“While you don’t want to be too preemptive” in tapering, “you don’t want to be so reactive as to being late.”
Forbearance Effect: Serious delinquencies of mortgages & student loans plunge to record lows because delinquent loans in forbearance don’t count as delinquent.
QE from crisis to crisis, and even when there is no crisis.
The Fed provides the data quarterly, I dissect it at the stunning per-capita level.
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?
But long-term Treasury yields have surged, to the great consternation of our Wall Street Crybabies.
The Fed smiles upon rising long-term Treasury yields as sign of economic growth and rising inflation expectations.
Gimme a break, will ya? Wherein I rant, supported by the Fed’s own data.