Dissatisfaction with Powell’s remarks in December regarding the balance sheet threw markets for a spin and helped lead to the Fed’s pause on rates a month later. Since then, the Fed chief has explicitly said one of his aims is to avoid “needless market disruptions.”
How did this come about?
We cannot sling debt unless market volatility of controlled, that is the deal with our debt cartel. Congress never agreed, but Congress is a fool that thinks the fed sets rates. No so, rates are set in the Goldman Sachs options desk. Congress has long since lost control when they lost any liquidity to manage short term debt. Evidence? The Treasury curve is sick.
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