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So by my math the Fed now holds $2.240 trillion in US Treasuries and $1.637T in MBS, making it the largest bond fund in the US.
The total is $3.877 trillion. At the peak, the Fed had $2.465T of Treasuries & $1.782T of MBS.
These are numbers so large you cannot comprehend them.
The total is $3.877 trillion. At the peak, the Fed had $2.465T of Treasuries & $1.782T of MBS.
These are numbers so large you cannot comprehend them.
When you create currency out of thin air to finance public debt, that used to be called "monetization," a word you don't hear much in the US, but many banana-republics know it well. Some have said "Oh no, it's not monetization. That'd be illegal," as if that ever stopped them.
So what happened today is the Fed confirmed that they have monetized the debt.
If I neglect to read anything from @epsilontheory it's only because I forgot. https://www.epsilontheory.com/we-are-all-epsilon-theorists-now/
"There will therefore be plenty of attention to the Fed’s revised economic forecasts."
Why? They're always wrong.
http://archive.is/XiTtu
Why? They're always wrong.
http://archive.is/XiTtu
