Powell's Vice Tightens

Fri, Mar 19, 2021 - 10:38am

In a somewhat surprising move...but maybe not...The Fed will allow that SLR exemption to expire on March 31. Could this be the spark that leads to even higher rates and, ultimately, to a sharp pullback in the "stock market"?

As we've been discussing, The Fed is playing with fire by sticking to their policy of being REactive instead of PROactive. Perhaps the removal of this SLR exemption will be shrugged off by later today? But perhaps not. It's unclear at this moment. What IS clear is that the news was not greeted with joy and exuberance....

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Key Economic Events Week of 9/20

9/21 8:30 ET Housing Starts
9/22 8:30 ET Existing Home Sales
9/22 2:00 ET FOMC Fedlines
9/22 2:30 ET Chief Goon Powell
9/23 9:45 ET Flash PMIs for September
9/24 8:45 ET Goon Mester
9/24 10:00 ET Chief Goon Powell
9/24 10:00 ET Goon George

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