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The Fed's $3 Trillion Problem | Maroon Macro & Joseph Wang
Forward Guidance
The Importance of Balance Sheet Capacity
value at risk is basically a certain type of risk measure that, that different banks and hedge funds would use. And so when you think about sort of money in this more abstract nature, you kind of realize that a lot of these concepts are very fungible, right? So I mean, let's say that some volatility rises up, then a lot of things become less money like so to speak. When volatility is low, every, all the markets are moving smoothly, you can trade your assets for bank deposits or something else with little loss. But when you have volatility very high, you know, the clitiki is not there. You're probably going to not be able to easily convert
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