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US-money-market-fund-balances-2024-08-07

by Wolf Richter • Aug 7, 2024 • 0 Comments

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FRONT PAGE

After Fed Trims ON RRP Rate by 5 Basis Points on Top of Rate Cut, ON RRPs Plunge to $98 Billion, Lowest since April 2021, -$2.3 Trillion from Peak, on the Way to Zero

by Wolf Richter • Dec 21, 2024

QT has only drained ON RRPs so far, but not Reserves, which are still where they’d been when QT started in July 2022. QT has a long way to go.

What Powell Said at the FOMC about Today’s PCE Price Index: “We Still Have Work to Do Though, Is How We’re Looking at it. We Need policy to Remain Restrictive to Get that Work Done”

by Wolf Richter • Dec 20, 2024

Inflation is still in services, no progress in 6 months. Another bummer: Durable goods deflation, a contributor to cooling inflation, may be over.

Census Bureau Massively Revises Up Population Growth: +8 Million in 3 Years, +3.3 Million Last Year, Largely due to Immigration. US Population Surges to 340 Million

by Wolf Richter • Dec 19, 2024

Total Employment to be substantially revised higher early 2025 when the BLS incorporates these up-revisions into its household survey employment data.

Home Sellers, Home Buyers, and Brokers Getting Used to the “New Normal” Old Normal 6-7% Mortgages?

by Wolf Richter • Dec 19, 2024

Existing home sales rise from multi-decade rock-bottom, still -34% from 2021, -22% from 2019. Supply highest for November since 2018, days on market highest since 2019.

Fed Cuts by 25 Basis Points, to 4.25%-4.50%, Sees Only 2 Cuts in 2025, Sees Higher Inflation, Higher “Longer-Run” Rates. QT Continues

by Wolf Richter • Dec 18, 2024

Energetic backpedal from the aggressive monster-rate-cut trajectory envisioned by the markets three months ago.

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