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The Institutional Risk Analyst
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Should the FOMC End Fed Funds Targeting? Issue CMOs?
As Chairman Powell said in the latest FOMC presser, the SOMA reinvestment plan is intended to get their duration down to that of the Treasury debt outstanding by allowing long duration MBS to be replaced by short-duration T-bills. Could the Fed have continued to shrink the SOMA further as Bowman and others have urged?
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Nov 59 min read
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.
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Aug 12, 20247 min read
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.
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Jun 10, 20249 min read
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