Yahoo! News
The Federal Reserve is about to start shrinking its $8.9 trillion balance sheet, deploying a second tool along side higher interest rates to curb inflation, though officials don’t know just how effective it will be.
After doubling in size through asset purchases in the first two years of the pandemic, the balance sheet will be reduced at a pace that’s almost twice as fast as after the last financial crisis. While the process officially commences on Wednesday, the first US Treasury securities won’t run off until $15 billion mature on June 15. More
If I pulled out after I’d be a dad.
Well, at least Janet Yellin finally admitted she doesn’t know what the hell she is doing. As if we already didn’t know.
Good luck getting the toothpaste back in the tube.
Does anyone believe that they even KNOW what’s on their ‘balance sheet?’
Shut down Congress and their bank: The FED. Terminate “The United States Corporation.
Regardless of the impact to US Citizens, the FED (privately owned Bank) will make their profit before reducing inflation and the economic hardship of Americans.
The UN and the Fed need to be abolished.
But with Congress, Big Money talks, bullshit walks.
We will continued to be screwed by the FED and the UN.
We have some hard times coming. It’s been building for years and it’s going to be a doozy.
Inflation had been climbing albeit much slower than we’re experiencing now, in the 70s. By the time RR took office, we had a mean case of stagflation, high unemployment and a real inflation rate of 14%, not the bullshit 8.3% we’re being fed now(closer to 20%) Volker and Reagan tightened up the money supply. It caused interest rates to hit almost 20% but it broke the back of inflation. Unemployment soared too.
RR took a big hit in the midterms but stuck to his guns. The rest is history, the 80s rocked. I know, I was there having the time of my life with my business and side hustles.
Big difference now kids. First of all we have absolutely the worst leadership in the history of our country. They have CAUSED this inflation when they pulled the rug from under the energy sector in it’s insane push for unicorn farts. They’re not going to back down.
Second what have we got to ramp up? Our manufacturing is decimated. There’s only so many jobs we can provide to men working on pipelines and in oil fields. We’ve been hollowed out.
OTOH we churn out more lawyers in one year than the rest of the world does in a decade while China turns out more STEM grads & engineers in one year then we do in 10. That isn’t going to end well.
We’ve eaten our seed corn. When interest rates start to shoot up, the interest on the $30 FUCKING TRILLION national debt is going to be BY FAR, the single biggest item in the budget. Oh wait, we don’t even bother with budgets anymore, just massive CRs.
And Trump, God love him, was the biggest money printer of all time although Joe is almost caught up. It’s going to be a smoldering pile of ashes by 2024 and whoever gets the honors better have steel cajones.
Until we put em’ in a headlock…
@cato /Salute
Great idea, you fucking morons. Should’ve been done years ago.
@MMinWA June 2, 2022 at 7:29 pm
> We have some hard times coming. It’s been building for years and it’s going to be a doozy.
If you insist you will only do “business” in Confederate States of America “money”.