As is your norm, excellent article. Particularly enjoyed your labeling the "Chart of Doom"
Point of clarity though. I believe the cumulative deficit is only 14.3b thus far (see table 6 Liabilities, Earnings and Remittances Due to the US Treasury from most recent H.4.1 https://www.federalreserve.gov/releases/h41/20221215/), but perhaps I am looking in the wrong place. How did you derive the 48b number?
Great article! Thanks for explaining this. It seems to me whatever the Fed does acts against it’s own interests to a degree. I believe this is likely because the Fed is itself an unnatural institute which works against free market principles, and so the free market principles reciprocate pressure.
I would love to hear your speculative analysis on the currently discussed subject of a central bank digital currency.
Wow, I have no words to describe what I’m learning from you, is super valuable. Again, can’t thank you enough for the work that you put for free, keep it going TLBS!!
As is your norm, excellent article. Particularly enjoyed your labeling the "Chart of Doom"
Point of clarity though. I believe the cumulative deficit is only 14.3b thus far (see table 6 Liabilities, Earnings and Remittances Due to the US Treasury from most recent H.4.1 https://www.federalreserve.gov/releases/h41/20221215/), but perhaps I am looking in the wrong place. How did you derive the 48b number?
Thank you Bear! Another great writeup!
Outstanding analysis. I have been following you for a little while and have enjoyed all you have written thus far.
Great article! Thanks for explaining this. It seems to me whatever the Fed does acts against it’s own interests to a degree. I believe this is likely because the Fed is itself an unnatural institute which works against free market principles, and so the free market principles reciprocate pressure.
I would love to hear your speculative analysis on the currently discussed subject of a central bank digital currency.
Basic question:
Why does the Fed need the IORB and the RRP?
Why do they need to borrow this much money? $5.3trillion.
I'm sure their operational expenses aren't that high.
Is it to help the financial system to operate appropriately and efficiently?
What does the IORB/RRP accomplish? Does it make money markets less volatile?
Jus trying to understand it.
Echoing others, thank you TLBS for all the excellent learnings.
Wow, I have no words to describe what I’m learning from you, is super valuable. Again, can’t thank you enough for the work that you put for free, keep it going TLBS!!