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Sunday, August 9, 2020
watch-live:-fed-chair-powell-announces-qe4-(but-don’t-call-it-qe4)

Watch Live: Fed Chair Powell Announces QE4 (But Don’t Call It QE4)

Update: Fed Chair Powell appears to have announced QE4 (but do not call it QE4!): Discussing the liquidity shortage and repo-calypse, Powell said: ... While a range of factors may have contributed to these developments, it is clear that without a sufficient quantity of reserves in the banking system, even routine increases in funding pressures…
watch-live:-fed-chair-powell-explains-why-he-ignored-the-biggest-liquidity-crisis-in-over-a-decade

Watch Live: Fed Chair Powell Explains Why He Ignored The Biggest Liquidity Crisis In...

So... everything's economically awesome (apart from the biggest liquidity crisis in over a decade) but we should cut rates? Just don't say "mid-cycle adjustment" - they don't like that! Good luck explaining the Fed's repo function (and why you totally ignored it) and data-dependency, and remember, if the market pukes while you're talking, we know…
fed-chair-powell-set-to-disappoint-markets-in-upcoming-speech

Fed Chair Powell Set to Disappoint Markets in Upcoming Speech

While the full program of this year’s Jackson Hole symposium will be released tonight at 8pm ET, what we do know is that Chair Powell will address the symposium on Friday, August 23, at 10 AM ET.Powell is widely expected to preface his prepared remarks with an update on current conditions that acknowledges continued risks…
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