The Fed's Moving Money Back Into the Money Markets

The Fed is moving money back into the money markets. The reverse repo facility, we've seen a drop from about 2.5 trillion down to around 2 trillion. So as long as the Fed keeps raising rates, they're trying to push money back intomoney markets. And every time you hear Powell open his mouth, this is what he's saying. But I think it will be longer because they're ingrained in an idea that this whole thing is easy now.