Fed struggles to hold fragile financial system together... SOFR nearly 3x pre-pandemic levels and rising

The Fed has wrecked our financial markets: secured overnight financing is now almost triple where it was pre-pandemic and this essentially must keep increasing or things will start to break; the Fed is barely able to hold its house of cards together… pic.twitter.com/5q1AFbyxIu

— E.J. Antoni, Ph.D. (@RealEJAntoni) May 6, 2025

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