Here’s the reality. Two months after the official start of QT, the Fed has reduced Treasury holdings by about $50 billion — $10 billion less than the plan. Meanwhile, Mortgage-Backed Security holdings increased by over $10 billion!
Here’s the reality. Two months after the official start of QT, the Fed has reduced Treasury holdings by about $50 billion — $10 billion less than the plan. Meanwhile, Mortgage-Backed Security holdings increased by over $10 billion!