um, there is no "normalize the balance sheet" ever again. If Fed did QE Lite with supercore inflation at 3.2%, and a small wobble in repo rates spooked Fed into buying $40-$60BN in bills, that's it, it's over. Just imagine how big QE will be in the next recession under Trump.

James E. Thorne
@DrJStrategy
12-14
A New Axis of Power: Warsh, Druckenmiller, Bessent and the Next Fed Chair
The centre of gravity in US economic policy is shifting from isolated personalities to a tightly connected network: Kevin Warsh, Stanley Druckenmiller and Scott Bessent, now aligned under Donald Trump.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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