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Republican senator calls her the most “radical choice for any regulatory spot in our federal government” he has ever seen.

While the Fed’s current tightening is not exactly a well-kept secret, stock and bond markets seem willing to ignore what the Fed’s left hand is taking away as the right hand is giving. Reverse repurchase agreements, which I have been tracking here, have exploded to a trillion dollars in money that the Fed is sucking out of the financial system. According to John Mason at  Seeking Alpha, total reverse repos on the Fed’s balance sheet actually just hit $1.26 trillion this past week: Factors Affecting Reserve Balances of Depository institutions and Condition Statement of Federal Reserve ...

All those economists who went along with the Fed’s inflation-is-temporary-and-going-per-plan narrative are stunned by the data they now see coming in. They shouldn’t be, as it was predicable. However, they will need to get bigger charts to make room for it. Notice where the last ten data points for the increase in inflationary  surprises are located (look up to the far, top right corner of the chart): The chart shows U.S. inflation data surprises at their highest in the 20-year history of the series, said strategist Jim Reid, referring to a note by equity strategist Parag Thatte. 

Is the inflation I’ve been writing about really all just transitory as Papa Powell claims it is? The Fed Head assures us he has this under control. Would that be just like Father Fed and friends had bank reserves under control right before the repo crisis blew up in late 2019? Or just like they had their Great Rewind under control right before the stock market imploded in late 2018 due to Fed tightening that was promised to be as boring as watching paint dry? Or just like Janet Yellen, the author of paint-by-numbers boredom, now has everything under control, except apparently her yellin’ ...

The big talk among economists and central banksters and some politicians in 2020 has shifted toward how the Coronacrisis will (or “must”) result in a global financial/social reset. I’ve said for years we can anticipate central bank digital currencies (even before that term existed) to happen in conjunction with a global financial reset. Now we are in that era, and I’ve been writing about it this year in my Patron Posts. In short, I framed that argument as, “The world is set universally on a course of creating an everything bubble. When that explodes or implodes, it will be a global ...