The Fate Of The Fed's Balance Sheet | Lou Crandall & Joseph Wang on Draining of Reverse Repo (RRP) Facility, Timeline of QT Taper, and 2024 Tax Refund Data | Forward Guidance podcast - Listen or read transcript on Metacast
The Fate Of The Fed's Balance Sheet | Lou Crandall & Joseph Wang on Draining of Reverse Repo (RRP) Facility, Timeline of QT Taper, and 2024 Tax Refund Data
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Timestamps:
(00:00) Introduction
(00:40) Reverse Repo Decline Driven By A) Decline In Fed's Balance Sheet And B) Increased Supply Of Treasury Bills And C) Private Repo Market Demand
(05:45) The Liquidity Demands Of The Basis Trade (Long Cash Treasurys / Short Treasury Futures) Is Drawing Money Out Of Fed's Reverse Repo (RRP) Facility
(12:40) VanEck Ad
(13:22) Lou's Accurate Prediction On Why Fed's Bank Term Funding Program (BTFP) Would Not Be Renewed (It Wasn't)
(17:10) Fed's Balance Sheet Policy: Quantitative Tightening (QT)
(25:30) Summary From Jack
(27:01) Money Market Data Could Indicate QT Will Continue For Longer
(28:28) DAS Ad
(33:14) Interest Rate Outlook On Fed Cutting Cycle
(37:17) Inflation And Real Interest Rates
(43:43) Potential Government Shutdown In U.S.??
(46:33) Tax Season Approaches! The Plumbing Of Refunds
(49:31) Joseph's Closing Thoughts On U.S. Fiscal Situation
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
