Minutes to midnight.
Category: fomc
Jerome Powell Delivers Remarks At ‘Not Stuffy’ Fed Event
“Candid and serious, yes. But not stuffy”.
‘It’ll Be Too Late’: Recession Worries Raise Stakes For Backpedaling Jay Powell
Things just got even more complicated.
World’s Foremost Expert On Self-Sabotage Says ‘Pathetic’ Fed Is ‘Own Worst Enemy’
“They don’t have a clue”.
If ‘QE-Lite’ Reignites Classic QE Trade, Fade It, Goldman Says
“Compression of risk premia is only a side effect”.
The Funding Storm Has Passed. Now What?
It’s imperative that the Fed doesn’t somehow fumble the handoff or drop the baton.
Former Officials Say Fed Should Buy $250 Billion In Assets Soon, Consider Change To Target Rate After Repo Chaos
“This episode indicates that the operational framework… is not as resilient as it could be”.
As Fed Upsizes Repos, Kocherlakota Says ‘Something’s Very Wrong With The Financial System’
“Basic functions” have been disrupted.
Bullard Talks Up Standing Repo Facility To Fix Funding Squeeze, Says Negative Rates Are Unhealthy
“You probably would not have to use it most of the time”.
‘Markets Were Not Effectively Distributing Liquidity’: John Williams ‘Explains’ Repo Chaos, Paves Way For QE-Lite
“This episode reminds us all of the importance of having well- functioning markets”.
‘A Whatever It Takes Signal’: Fed’s ‘Big Bazooka Of Liquidity’, Sets Up ‘QE-Lite’ In October
After a remarkable week, all eyes turn to October.
Fed Admits Return Of Funding Stress Likely, Announces More Repos, Term Ops
The Fed appears to be waking up to the reality of the situation.
Eric Rosengren: Rate Cuts Risk ‘Further Inflating The Prices Of Risky Assets’
“Lowering rates to address uncertainty is not costless”.
‘Moreover, The Yield Curve Is Inverted’: Jim Bullard Explains Why He Wanted A Big League Rate Cut
“The following considerations factored into my decision”.
Fed Risks Stop Outs, ‘Disorderly Unwinds’ In Slow Response To Funding Squeeze, One Bank Warns
Some analysts and market participants are not amused.
This ‘QE’ Is Different: Fed Balance Sheet Expansion Is Coming, But Nuance May Get Lost, McElligott Says
“Instead, the balance sheet discussion is suddenly a ‘NOW’ thing”.
Watch: Trump Tells Fox Jay Powell’s Job Is ‘Yeah, Safe. Sure, Why Not?’
“I mean, he’s got a job”.
Fed’s ‘Band-Aid’ Approach To Repo Chaos Opens Door To More Volatility, But Fear Likely Overblown
“What we have seen this week is not a crisis but a symptom that we have reentered an old regime”.
‘Terrible Communicator’ Powell Inexplicably Coy On Funding Squeeze As Trump Laments Another Fed ‘Fail’
“No ‘guts’, no sense, no vision!”
Fed Cuts Rates In 7-3 Decision, IOER Tweaked, Committee Divided On Future Easing
Suffice to say the Fed is operating under duress – and on multiple fronts.
Charlie McElligott Talks QE ‘Muscle Memory’ And ‘The Trillion-Dollar Question’ For FOMC Meeting
“The TRILLION DOLLAR QUESTION today is this”…
Nomura: Fed ‘Likely’ To Announce ‘QE-Lite’ On Wednesday
Don’t forget the nuance, though.
Jeff Gundlach’s ‘QE-Lite’ Call, And Why The Fed May Announce Outright Asset Purchases On Wednesday
“They are baby-stepping their way to doing QE”.
New York Fed Forced To Intervene After Funding Squeeze Goes Mental
Break glass in case of emergency.
Trump Cites ‘Oil Hit’ In Complex Calculus For ‘Big Interest Rate Drop, Stimulus!’
“Thank you, Mr. President!”
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