The “extraordinary measures” taken by the Fed during Covid have slowly been tamped down. The assets owned by the Fed have steadily moved lower, although the couple of trillion dollars sold off are dwarfed by the $7 trillion still lingering around Fed coffers.
The Reverse Repo has just about been zeroed out. I am fully convinced I’ll never understand the plumbing of this thing.
Janet Yellen’s bank salvation program, provided to her billionaire friends in March 2023, is just about fully repaid.
I’m skeptical how much efficacy the Fed Spread has anymore, but I must say, the pattern is striking. At this point, I’m convinced the market is purely and utterly psychology based. Let’s face it, if the empty-headed Huak Tuah girl can scam the public for half a billion dollars, then the nation has completely lost its mind.
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