3min chapter

Forward Guidance cover image

Inflation Forces The Fed's Hand | Joseph Wang & George Goncalves

Forward Guidance

CHAPTER

The QT Time Bomb Is Ticking

There's nothing inherently inflationary about bank reserves. The QT time bomb is ticking, and we will move to the yield curve control end game. If you have a debt market like the Treasury market that grows by trillions every year, eventually it's just going to grow too big and too difficult to manage. And the ultimate answer to this has to be some sort of public intervention.

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