ZeroHedge/Stephen Gallagher/8-24-2022
“Nevertheless, the Fed did not foresee that it would have to reverse QT in 2019 at a level of reserves far above pre-2008 levels. If demand for reserves going forward is higher than in 2019, the Fed will have to halt QT sooner than expected to maintain control of overnight rates. More on this premature end to QE in a subsequent post.”
USAGOLD note: Fo those looking to play catch-up on the Fed’s QT process, this is a good place to start – analysis from SocGen’s Stephen Gallagher.
