Bank reserves at the Fed dropped -$59 billion last week to $2.93 trillion, the 2nd-lowest since January 2023

BREAKING: Bank reserves at the Fed dropped -$59 billion last week to $2.93 trillion, the 2nd-lowest since January 2023.

This nearly matches the 2023 low of $2.93 trillion, just before the regional banking crisis.

Reserves are now on track for their 3rd consecutive monthly… pic.twitter.com/oVF2Ug8Xij

— The Kobeissi Letter (@KobeissiLetter) October 25, 2025

My best guess: the Fed is going to abandon so-called Qualitative Tightening (QT) and all pretense of “fighting inflation” as a precursor to a new round of Money Printer Go BRRRRR. The implications to me are: keep stacking – BlackRock Jay’s fiat currency fraud only gets worse from here.

h/t Boo_Randy_II