Dismal's Smacks

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📈 Macroeconomics

$285 billion from the liquidity fairy as of 5/24: Reviewing the Bank's sweetheart liquidity programs while households are forced to take on debt and in some instances DIE while being priced out of their lives in favor of rising interest rates

$285 billion from the liquidity fairy as of 5/24: Reviewing the Bank's sweetheart liquidity programs while households are forced to take on debt and in some instances DIE while being priced out of their lives in favor of rising interest rates to fight an inflation problem the

Inflation Alert! Fed's Christopher J. Waller: "Inflation Is Stubbornly High" "Almost no progress." "The news on core inflation was similar."

"I do not support stopping rate hikes unless we get clear evidence that inflation is moving down towards our 2 percent objective." Waller's words back hikes. https://www.federalreserve.gov/newsevents/speech/waller20230524a.htm Hike, Skip, or Pause? Governor Christopher J. Waller At the 2023 Santa

Minutes of the Federal Open Market Committee, May 2-3, 2023: "On a four-quarter change basis, total PCE price inflation was projected to be 3.1 percent this year, with core inflation at 3.8 percent." Remember, the Fed's target is 2%...

This is why Fed officials are saying more rate hikes are needed. https://www.federalreserve.gov/monetarypolicy/fomcminutes20230503.htm A joint meeting of the Federal Open Market Committee and the Board of Governors of the Federal Reserve System was held in the offices of the Board of Governors on Tuesday,

Fed's Economic Well-being US Household 2022: "fewer adults reported having money left over after paying their expenses. 54% of adults said that their budgets had been affected "a lot" by price increases."

Fed's Economic Well-being US Household 2022: "fewer adults reported having money left over after paying their expenses. 54% of adults said that their budgets had been affected "a lot" by price increases."

"51% of adults reported that they reduced their savings in response to higher prices." https://www.federalreserve.gov/publications/files/2022-report-economic-well-being-us-households-202305.pdf The Federal Reserve Board on Monday issued its Economic Well-Being of U.S. Households in 2022 report, which examines the financial lives of U.S. adults

Inflation Alert! St. Louis Fed’s James Bullard backs two more hikes. Bullard would have central bank push interest rates up to 5.5%-5.75% range

Sources: https://www.marketwatch.com/story/feds-bullard-backs-two-more-hikes-359fb941: St. Louis Fed President James Bullard on Monday said he would like to see two more quarter-percentage-point interest-rate hikes this year. “I think we’re going to have to grind higher with the policy rate in order to put downward pressure on inflation,

FICC - GOV Alert! GSD Capped Contingency Liquidity Facility® (CCLF®) – Changes to the Reset Date and Look-Back Period - Effective as of June 2, 2023

https://www.dtcc.com/-/media/Files/pdf/2023/5/19/GOV1481-23.pdf What is the Capped Contingency Liquidity Facility (“CCLF®”)? On April 25, 2017, the Commission approved FICC’s adoption of the Clearing Agency Liquidity Risk Management Framework (‘‘Framework’’), **which broadly describes FICC’s liquidity risk management strategy and

$57 billion withdrawn from commercial banks in the last week (May 3rd-10th). Since 2/22/2023, $590 billion in deposits have been pulled. $1,058 billion in deposits has been pulled since the all time hit 4/13/22. The bank run continues and picks up speed!

Source: https://www.federalreserve.gov/releases/h8/20230519/ https://fred.stlouisfed.org/series/DPSACBW027SBOG EDIT: I was originally using the not seasonally adjusted data instead of seasonally adjusted data. Have edited all the numbers to reflect (outside of the title). Apologies for the mix up--what I get for trying to