The Fate Of The Fed's Balance Sheet | Lou Crandall & Joseph Wang on Draining of Reverse Repo (RRP) Facility, Timeline of QT Taper, and 2024 Tax Refund Data

Finally, you can easily access Bitcoin in a low-cost ETF with the VanEck Bitcoin Trust (HODL). Visit https://vaneck.com/HODLFG to learn more. VanEck Bitcoin Trust (HODL) Prospectus: https://vaneck.com/hodlprospectus/ __ Follow Joseph Wang on Twitter https://twitter.com/FedGuy12 Follow Lou Crandall on Twitter https://twitter.com/Fedwatcher Joseph's piece on Real Rates: https://fedguy.com/higher-real-rates-for-longer/ More about Wrightson ICAP: https://www.wrightson.com/ Follow VanEck on Twitter https://twitter.com/vaneck_us Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ __ Use code FG10 to get 10% off Blockworks’ Digital Asset Summit in March: https://blockworks.co/event/digital-asset-summit-2024-london __ Timestamps: (00:00) Introduction (00:40) Reverse Repo Decline Driven By A) Decline In Fed's Balance Sheet And B) Increased Supply Of Treasury Bills And C) Private Repo Market Demand (05:45) The Liquidity Demands Of The Basis Trade (Long Cash Treasurys / Short Treasury Futures) Is Drawing Money Out Of Fed's Reverse Repo (RRP) Facility (12:40) VanEck Ad (13:22) Lou's Accurate Prediction On Why Fed's Bank Term Funding Program (BTFP) Would Not Be Renewed (It Wasn't) (17:10) Fed's Balance Sheet Policy: Quantitative Tightening (QT) (25:30) Summary From Jack (27:01) Money Market Data Could Indicate QT Will Continue For Longer (28:28) DAS Ad (33:14) Interest Rate Outlook On Fed Cutting Cycle (37:17) Inflation And Real Interest Rates (43:43) Potential Government Shutdown In U.S.?? (46:33) Tax Season Approaches! The Plumbing Of Refunds (49:31) Joseph's Closing Thoughts On U.S. Fiscal Situation __ Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.