The Fed's Balance Sheet Jumped $300B Last Week. Is That Inflationary?
The Breakdown
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Is the Federal Reserve Systemic or Specific?
The Fed alone has a $1.5 trillion market loss from the very same issue of holding mortgage back securities and treasuries that have declined in price and rising rates. The FDIC, together with the OCC and the Federal Reserve Sunday of the week before last week, seems to have made this kind of implicit protection of deposits across banks. And you've seen that even with First Republic, which we'll come back to.
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