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Powell ADMITS banks may run into "liquidity issues," even with the expanding REPO! He mentioned "daylight overdrafts." A daylight overdraft occurs when a bank withdraws more money than it has in its Federal Reserve account in order to make a payment…
— Gregory Mannarino (@GregMannarino) October 30, 2019
Easy money used to be a tool reserved for recessions/crises. It's now the default policy in any environment as the prevailing central bank view is that there are only positive (stimulus, wealth effect) & no negative (if higher inflation comes, that's good) consequences to easing.
— Charlie Bilello (@charliebilello) October 30, 2019
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