Dismal's Smacks

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📈 Macroeconomics

Fed's Waller: "Since Dec. 2021, core inflation has basically moved sideways with no apparent downward movement."

"Financial conditions haven't significantly tightened, the labor market continues to be strong & quite tight, & inflation is far above target, so monetary policy needs tightened further" Source: https://www.federalreserve.gov/newsevents/speech/waller20230414a.htm Highlights: "The BTFP and discount window appear to have

$342.5637 billion as of 4/12 ($1,807 billion so far...): An update on the tools the Fed is using to give banks liquidity while 'we' get Inflation & Rate Hikes

Good afternoon and HAPPY almost Friday Superstonk, resident jellyfish back with you for another week's review of the Fed's tools. Let's "Hit it"! This week's Fed balance Sheet: https://www.federalreserve.gov/releases/h41/20230413/ What we are monitoring: * Discount

Inflation Alert! The purchasing power of the dollar continues to VANISH! In March, the purchasing power of $100 in January 2000 was $55.90.

Remember, CPI tracks the loss of the purchasing power of your dollars, and thereby the purchasing power of your hard earned labor. Source: https://fred.stlouisfed.org/series/CUUR0000SA0R#0 CPI tracks the loss of the purchasing power of your dollars, and thereby the purchasing power of your hard earned

FDIC Alert! Vice Chairman Travis Hill in speech: "They say that central banks raise rates until something breaks, and that monetary policy works less like a scalpel and more like a sledgehammer."

"As the tide goes out, and the punchbowl gets pulled away, margin of error shrinks across the board." Recent Bank Failures and the Path Ahead by Travis Hill, Vice Chairman Federal Deposit Insurance Corporation https://www.fdic.gov/about/travis-hill Source: https://www.fdic.gov/news/speeches/2023/

Federal Reserve Alert! Minutes of the Federal Open Market Committee March 21–22, 2023

Source: https://www.federalreserve.gov/monetarypolicy/fomcminutes20230322.htm Recent Developments in the Banking Sector: * Before turning to other agenda items, the Chair asked the Vice Chair for Supervision to provide an update on recent developments in the banking sector. * The Vice Chair for Supervision described the developments, including those at

Swiss Parliament Rejects $129.82 Billion Aid For Credit Suisse-UBS Merger. While the upper house had approved the government's contribution to the rescue package, parliament's lower, and larger chamber, pushed back again on Wednesday.

Source: https://www.ndtv.com/world-news/swiss-parliament-rejects-129-82-billion-aid-for-credit-suisse-ubs-merger-3943095 Switzerland's parliament rejected on Wednesday the government's 109 billion Swiss francs ($120.82 billion) aid for Credit Suisse's merger with UBS, leaving the fallen bank's hastily arranged rescue without a largely symbolic parliamentary blessing. While

Report to Congress Pursuant to Section 13(3) of the Bank Term Funding Program (AKA collateral never losing value). As of 3/31/23: Total outstanding amount of all advances under the BTFP was $64,595,880,000.

Source: https://www.federalreserve.gov/publications/files/13-3-report-btfp-20230411.pdf Bank Term Funding Program: The Bank Term Funding Program (BTFP) was created to support American businesses and households by making additional funding available to eligible depository institutions to help assure banks have the ability to meet the needs of all their