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Unusual Whales Pod Ep 16: Macro Outlook for 2023, the Federal Reserve in 2023, and the January 6.5% CPI Print

Unusual Whales

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QT and the Treasury General Account and What's the Minimum Amount of Bank Reserves Required in the Banking Sector

The treasury general account has also sort of gotten drawn down from about 900 billion back in May to something like 400 billion today. There's a lot of reasons why I think you could expect that to continue going forward but also understanding how the sort of Treasury issuances federal expenditures, tax receipts all that factor in. It's potentially something to look at after the debt ceiling is actually lifted and the treasury goes out and sort of refills its coffers via the debt market that'll take bank reserves as well.

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