Jerome Powell, the Fed’s chairman, recently gave the clearest signal yet that the Federal Reserve’s so-called “quantitative tightening” is about to end.
Speaking at the National Association for Business Economics conference in Philadelphia recently, Powell said:
“Our long-stated plan is to stop balance sheet runoff when reserves are somewhat above the level we judge consistent with ample reserves conditions. We may approach that point in coming months.”
Translation: the money printer is warming back up.
Now, if you’ve been paying attention, this shouldn’t come as a surprise. The playbook has been obvious for a while—first come the rate cuts…
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