They sure are trying their best. To do what? To goose markets higher.
The Fed’s balance sheet might inflate to $10 trillion.
A eurodollar is more about the “euro” than the more obvious monetary denomination.
Call it what you will, the Fed has started the new QE. It’s coming fast and furious with POMO on top of TOMO that will grow the Fed’s balance sheet as fast as it did under old QE. It’s a sign that the house is on fire.
After constantly running through what the FOMC gets (very) wrong, let’s give them some credit for what they got right.
It’s hard not to think sometimes that maybe the conspiracy theorists are on to something here.
The price we’re paying to keep our heads above water steepens while the pay-off is dropping off a cliff.A good friend related a story that goes directly to the heart of what’s broken in our way of life. My friend went to a reunion in Silicon Valle…
When I first got in this business oh so many years ago, my mentor told me that I shouldn’t waste my time worrying about the things everyone else was worrying about.
So the Fed Chair says the balance sheet growth will be “organic.”
And we cant call it QE4.
The US Treasury daily tax data suggests that the US economy is at least slowing. That means already yooge deficits will grow. Treasury supply will…