Sunday , November 24 2024
Home / Mike Norman Economics / Treasury and Fed attempting to coordinate monetary policy

Treasury and Fed attempting to coordinate monetary policy

Summary:
They are going to add a lot of Reserves to Depositories next week:Trea­sury Sec­re­tary Steven Mnuchin said he’s work­ing closely with Fed Chairman Powell to make sure there are am­ple re­serves fol­low­ing fund­ing strains in money mar­kets in September, which he attributed in part to bank liquidity rules.https://t.co/xA76QhGFvV— Kate Davidson (@KateDavidson) December 5, 2019 Treasury ops adding about 38B Tues+Thurs and Fed adding another 25B via new operation Monday... 20B social security Weds... maybe 75Bish total... then it will all quickly reverse with qtrly taxes due on Monday the 16th... might bring total Reserves at Depositories closer to 1.7T by end of week...

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Matias Vernengo writes Elon Musk (& Vivek Ramaswamy) on hardship, because he knows so much about it

Lars Pålsson Syll writes Klas Eklunds ‘Vår ekonomi’ — lärobok med stora brister

New Economics Foundation writes We need more than a tax on the super rich to deliver climate and economic justice

Robert Vienneau writes Profits Not Explained By Merit, Increased Risk, Increased Ability To Compete, Etc.


They are going to add a lot of Reserves to Depositories next week:

Treasury ops adding about 38B Tues+Thurs and Fed adding another 25B via new operation Monday... 20B social security Weds... maybe 75Bish total... then it will all quickly reverse with qtrly taxes due on Monday the 16th... might bring total Reserves at Depositories closer to 1.7T by end of week...

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *