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Lou Crandall & Joseph Wang: A Monetary Plumbing Masterclass

Forward Guidance

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The Fed's Role in the Reverse Repo Facility

The deposit drain itself is just an existential threat to certain classes of banks. If the Fed thinks it's going to break so many banks, it needs to take that into account. I don't think it's that extreme at this point. But again, I didn't see Silicon Valley coming.

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