Kevin Warsh took over the Fed with a mandate to fight inflation and shrink the balance sheet. But the data doesn’t lie: in his first month, SOMO holdings actually grew by nearly $20B to $6.344T. The money printing hasn't stopped. #FederalReserve #Economy #Inflation #Finance
"Now, the new Fed Chair, Kevin Warsh, came into power on May 22nd, and he was supposed to get in there, reform the Federal Reserve, and shrink the balance sheet. In other words, he was supposed to fight inflation by sucking money out of the system. Now, is he doing that? Well, let's see. Okay, so you have Warsh becoming Chair of the Federal Reserve on May 22nd, and that week, the total SOMA holdings were at $6.324 trillion. And as of right now, we're at $6.344 trillion, which is an increase of nearly $20 billion in just one month. So the situation is, and this is not my opinion, this is called facts, or math, or numbers, Warsh is not shrinking the balance sheets. Warsh is not stopping the money printing."
💬 Discussion
Kevin Warsh took over the Fed with a mandate to fight inflation and shrink the balance sheet. But the data doesn’t lie: in his first month, SOMO holdings actually grew by nearly $20B to $6.344T. The money printing hasn't stopped. #FederalReserve #Economy #Inflation #Finance
