Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
Part 1

"The FOMC should forget about r* for the moment and focus on … the supermassive black hole at the center of global dollar funding markets."—Zoltan Poszar, 21 August, 2019. A few weeks ago, as part of its effort to prevent overnight rates from rising above the Fed's … Continue reading Stop the Presses! or, How the Fed Can Avoid Reserve Shortages without Bulking-Up,
Part 1