Fed's Balance Sheet Grows Above $3 Trillion
Total assets of Fed's balance sheet broke through $3 trillion last week, hitting a new high, as securities purchases are stepped up (including treasuries).
And for the first time since this program was launched it is starting to have a material impact on bank reserves (the dynamic component of the monetary base), which spiked last week.
As discussed earlier (see post), 2013 will look quite different from last year. The monetary base will be expanded dramatically as long as the current securities purchases program is in place. "Money printing" is in now full swing.
Source: Sober Look
About Sober Look
Sober Look Archive
|05/17/2013||Stocks Decouple From “Risk-On” Indicators||story|
|05/15/2013||JGB Yields Spike in Spite of all the BOJ Bond Buying||story|
|05/13/2013||Fudging China’s Export Figures or Currency Trading?||story|
|05/09/2013||Core PCE Measure Gives the Fed Green Light to Proceed with its Program||story|
|05/07/2013||China’s Weak Credit Transmission||story|
|05/03/2013||Australia’s Turn to Enter the Currency War?||story|
|05/01/2013||Draghi Will Act to Avoid Deflationary Spiral||story|
|04/29/2013||What Happens to Workers Who Drop Out of the Labor Force?||story|
|04/25/2013||With the ECB Easing Inevitable, Periphery Yields Hit New Lows||story|
|04/24/2013||The Slowdown in Economic Activity Is Right on Schedule||story|