Dropping Like a Stone: ON RRP Take-up in the Second Half of 2023. Liberty Street Economics detail the recent drop in ON RRP take-up through the lens of the channels identified in the recent staff report driving its initial increase.

via dismal-jellyfish: Source: https://libertystreeteconomics.newyorkfed.org/2023/12/dropping-like-a-stone-on-rrp-take-up-in-the-second-half-of-2023/ Background: Liberty Street has a paper Treasury Bill Supply and ON RRP Investment based on the Staff Report Banks’ Balance-Sheet Costs, Monetary Policy, and the ON RRP. TLDRS: The authors call out the increase in Overnight Reverse Repurchase (ON RRP) …

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DAVID HAGGITH: People See Better Than Economists – We’re no longer even sure what economists are since they clearly are not people who understand economics, so maybe not even people at all.

by DAVID HAGGITH Statue of a REAL economist — Adam Smith. Photo by K. Mitch Hodge on Unsplash Can you believe the Treasury market is already unwinding its bets that the Fed is done fighting inflation, even as the Champaign is still bubbling …

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‘When you’re Left-leaning you just have to want something badly enough for it to happen i.e. the laws of economics are nonsense. Simply legislate the result you desire. What could be easier!’

When you're Left-leaning you just have to want something badly enough for it to happen i.e. the laws of economics are nonsense. Simply legislate the result you desire. What could be easier! — TheLege (@TheLege2) June 18, 2023 JUST IN …

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