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The Institutional Risk Analyst
Silver Surges? Waller Wants Lower Reserves & Tighter Policy
The leading candidate to be the next Fed Chairman believes the balance sheet could safely shrink to around $5.8 trillion, with bank reserves potentially decreasing to $2.7 trillion. Waller argues that a shift towards more short-term Treasury bills would make the balance sheet safer and more flexible, and he is absolutely right.
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Jul 145 min read
Powell Fed Dithers on Inflation as the Trump Rally Fizzles
Kevin Hasset is now effectively Powell’s boss on everything other than monetary policy.
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Feb 188 min read
Silvergate, Reverse RPs and the “Theology of Prosperity”
Crypto, of course, is not an asset as much as a bad idea that was given life by Quantitative Easing
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Jan 25, 20238 min read
Should the FOMC Pause Rate Hikes After July?
The real message to the FOMC is this: hike another 75bp in July and then let the Fed funds target sit for a few meetings...
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Jul 21, 20225 min read
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