Joe Abate

Joe Abate, head of macro strategy at SMBC Nikko and former bank analyst, dives into the Fed's evolving policies. He discusses the shift from a scarce-reserve to an abundant-reserve framework, highlighting its impact on the Fed funds market. Abate explores Lorie Logan's proposal for a new target rate, potentially moving toward tri-party repo. He also addresses the rising costs of liquidity, the implications of a large Fed balance sheet, and how stablecoins could influence short-term markets. Tune in for fresh insights on the changing landscape of finance!