The Fed's Balance Sheet Jumped $300B Last Week. Is That Inflationary?
The Breakdown
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My guess is that the Treasury Secretary nudged slash cojold the banks to do this. That's my best interpretation. There will be a great investigative journalism coming out in the next few weeks. We saw this in 2008, right? So Treasury Secretary Tim Geithner played a role of investment banker or matchmaker,. And so over the weekend where Lehman was about to announce, there was fast and furiousSpeed dating between La Kovea and Wamu and Wells Fargo and Merrill Lynch and Bank of America within two days. The Federal Reserve has grown their balance sheet by providing liquidity to treasuries and mortgage backsecurities. What they haven't done is debt monetization,
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