4min chapter

Coin Stories with Natalie Brunell cover image

Danielle DiMartino Booth: Economic Downturn Worse Than '08 Global Financial Crisis? Bank Failures, Consolidations and Fed Pivot

Coin Stories with Natalie Brunell

CHAPTER

The Fed's Balance Sheet and the Debt Crunch

The average US income tax refund is a negative 11% year over year. So the liquidity that you thought you were coming into as a household ain't there. The federal government didn't give you as many things in 2022 and 2021 than they did in 2021 and 2020. That's why your income tax refunds are smaller. But credit crunches by definition or deflationary events. They just are.

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