Markets love to pretend that personnel changes don’t matter. “The institution is bigger than the individual.” That’s usually true – until policy tools change, not just policy rates. And the nomination ...
The Federal Reserve’s December meeting delivered another 25 basis points cut, but the real headline, in my opinion, was the announcement of “reserve-management purchases.” In other words, QE is back.
Learn how open market operations and quantitative easing differ in scale and purpose, impacting economic growth and monetary ...
The Federal Reserve will initiate $40B/month in Treasury bill purchases to maintain ample reserves starting December 2025. Unlike past QEs, this liquidity injection occurs amid robust GDP growth, low ...