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Fed’s QT Ghosts Are Haunting Powell
Bloomberg Businessweek
The Fed's Reverse Repo Facility and the Liability Side of the Balance Sheet
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When the Fed reduces its balance sheet, essentially they let the bonds mature. They don't use that money to go out and buy new bonds. That's made this a little more precarious because the Fed normally think about assets and liabilities on a balance sheet. Money market funds really love it. But people are warning, money market funds might like keeping their cash in bank reserves.
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