Eurodollar University’s Making Sense; Episode 75, Part 2: Yeah, The Fed Had Screwed Up T-bills And They Know It

75.2 Fed ‘admits’ Negligence, Monetary Malpractice

———Ep 75.2 Summary———

It’s never what they say, it’s what they do. For months before March 2020’s collateral-centered blowup, GFC2, we regularly chastised Jay Powell’s not-QE(5) program for doing the opposite of what would’ve been helpful. They bought T-bills and only T-bills. But then, right in the thick of the meltdown, the Fed stopped buying T-bills. Ever since that fateful week, other than reinvestment, despite massive QE6, not a single penny more in T-bills. No public acknowledgement has been forthcoming, not that we need one.

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