This another way to look at it… Fed is transferring more USD balances to non-govt than Treasury would if the Fed owned zero assets…
~10B in accumulated operating losses. Will find out the last weeks amount of losses in about an hour. Lost $4B last week. pic.twitter.com/CdElJiNfqh
— Nothing (@whip_n_spur) October 20, 2022
Somewhat of a non Congress approved fiscal transfer…
where are these transfers going? To IOR and RRP… IOR going to Depositories as additional accrued Capital and RRP interest going to USD savers in Money Market Mutual Funds…
Should increase from $4b to $6b per week within a couple of months… 🤑🧟♂️
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