Powell FOMC Folds on Inflation
As the federal debt rises, bank reserves must rise as well and with it inflation.
top of page
The Institutional Risk Analyst
© 2003-2024 | Whalen Global Advisors LLC All Rights Reserved in All Media | ISSN 2692-1812
Banks | Markets | Finance
R. Christopher Whalen
- Aug 12
- 7 min
The Powell Hedge Fund Drives Private Market Instability
In 2019, the FOMC essentially nationalized the US money markets, eliminating private price discovery for a representation of a market.
853 views
R. Christopher Whalen
- Jul 7
- 10 min
Goldman Sachs Fails Fed Stress Test
Notice that the Fed stress test is silent on trillions of dollars in mark-to-market losses facing US banks from COVID-era securities
2,924 views
R. Christopher Whalen
- Jun 10
- 9 min
Interview: Robert Brusca on the Federal Open Market Committee
Powell won’t hit the two percent target, but he won’t change the target either.
680 views
R. Christopher Whalen
- Mar 28
- 5 min
Inflation & the Passion of Jerome Powell
Perhaps Chairman Powell will be kind enough to fall on his sword on way out the door to make things easier for a future Chairman Waller...
1,071 views
R. Christopher Whalen
- Mar 4
- 6 min
Should FOMC Members Avoid the Media? The WGA Top 100 Banks
More often than not, Fed Governors use media appearances to enhance their personal celebrity rather than doing their jobs.
591 views
R. Christopher Whalen
- Dec 26, 2023
- 5 min
Higher Home Prices & Inflation in 2024
This morning, banks are buying funding from the BTFP below 4.85% and selling Fed funds at 5.5%.Â
1,576 views
R. Christopher Whalen
- Nov 27, 2023
- 6 min
The Moral Hazard of Jerome Powell
Instead of seeking authority from Congress, Chairman Bernanke and other members of the FOMC merely turned on the public spigot.
1,728 views
R. Christopher Whalen
- Nov 13, 2023
- 8 min
Big What? Rising Debt Service & Falling Liquidity
As with the Volcker Rule for banks, the move to centralized clearing of Treasuries and T-1 settlement seems destined to reduce liquidity
857 views
R. Christopher Whalen
- Jun 19, 2023
- 8 min
Powell Ought to Pivot to Bond Sales
If the FOMC raises fed funds further, bank failures and perhaps even a market access crisis for the Treasury are next.
1,660 views
R. Christopher Whalen
- May 1, 2023
- 6 min
The False Narrative on First Republic Bank
Until Chairman Powell comes clean with the Congress and the American people, more banks will inevitably fail.
5,195 views
R. Christopher Whalen
- Apr 26, 2023
- 6 min
Who Killed First Republic Bank?
The Treasury and Fed cannot admit fault for fear of bringing the whole house of cards crashing down.
3,332 views
R. Christopher Whalen
- Apr 9, 2023
- 12 min
Powell's Duration Trap, Banks and the US Treasury
The Fed by definition cannot make a profit and is always an expense to the Treasury, thus operating losses are a expense to the taxpayer
4,185 views
R. Christopher Whalen
- Nov 28, 2022
- 6 min
Is JPMorgan Chase Insolvent?
The US banking industry has been rendered insolvent by the Federal Open Market Committee
7,995 views
R. Christopher Whalen
- Nov 17, 2022
- 7 min
Extension Risk Threatens US Banks
There are literally dozens of banks in the US made insolvent by the policy moves of the FOMC over the past year.
1,213 views
R. Christopher Whalen
- Nov 2, 2022
- 6 min
Terminal Rates & Conflicted Economists
The cult of ever falling interest rates goes back 50 years and spans the terms of Fed chairs back to Alan Greenspan and Paul Volcker...
700 views
R. Christopher Whalen
- Oct 24, 2022
- 3 min
AOCI: The Winter of Quantitative Easing
Little attention is being paid to the collateral damage being done by the FOMC to the debt capital markets
777 views
R. Christopher Whalen
- Sep 18, 2022
- 9 min
Inflation, Politics & Fed Chairmen
As the scale of Fed open market operations grew since 2008, volatility has increased, rendering the adjustment from QE to QT problematic
1,060 views
R. Christopher Whalen
- Jul 31, 2022
- 8 min
Short Collateral & Long Tantrums
Demand for risk-free collateral and liquidity is largely a function of how JPMorgan (JPM) CEO Jamie Dimon feels about risk on any given day
851 views
R. Christopher Whalen
- Jul 24, 2022
- 6 min
Questions for Chairman Powell
QE has created a gigantic interest rate mismatch across markets for banks, non-banks and other financial intermediaries including the GSEs
505 views
Christopher Whalen
bottom of page