The Fed Is Losing Control Of Repo Markets (Again)

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Another day, another significant borrowing from the Federal Reserve’s repo facility. This has become a regular occurrence, and concurrent with a rise in money market rates due to the cash squeeze I told you about yesterday, there are a lot of similarities to 2019, and it’s got the Fed on track to not just cut rates this week also possibly terminate the balance sheet runoff – even if Steve doesn’t quite agree.

Video Length: 00:19:05


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