Fairy Godmother

Fairy Godmother

"Yellen will be in close contact with the Powell Fed to ensure that nearly all of the funding -- or even more than all in real terms -- for the spending is printed in the computers at the Eccles Building, or on whatever cloud server is hosting the Fed’s accounts," Saxo's John Hardy wrote, in a Tuesday note. That amusingly colloquial assessment encapsulates the consensus view on Yellen's return to government service as Joe Biden's Treasury Secretary. Republicans, Hardy went on to remark, might
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2 thoughts on “Fairy Godmother

  1. Can you do another piece on high yield – especially junk bonds? Is the Fed really just back-stopping all corporate debt or is that a fantasy? What’s the limit? What are the big risks?

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