Loading ...Michael Barr’s Speech
Just saw a Marketwatch headline but the story was deleted and scrubbed. The headline said Vice Chair For Supervision Michael Barr said the FED was NOT going to renew the 1yr emergency loan program for the banks. Did he actually say it, did he mispeak or was he mis quoted and why did they immediately remove it? Anyone have his comments from X(twitter)?
This is very important on many levels. The program while brilliant for preventing the collapse of the whole banking system as a result of the FED’s aggressive tightening in such a short period of time, has caused other problems to surface. I believe that either the problems in the reverse repo market and or the FED’s desire to start cutting rates soon is one reason for ending the program. This may be the tell that the FED IS going to cut rates in March(if not sooner)
I see ZH posted this about an hour after my post.https://www.zerohedge.com/markets/how-navigate-feds-new-paradigm-shift