Fed INCREASES $4.2 Trillion Balance Sheet By (Drumroll) … $1 Million

The Federal Reserve is shrinking their prodigious balance sheet by baby steps.  Like Steve Martin doing Michael Jackson’s Billie Jean.

According to the NY Fed, their securites holdings INCREASED by $1 million from th previous week rather than shrinking it. Not decreased, mind you,  but INCREASED.

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T-note and T-bond holding remained the same while Agency MBS holdings rose by $1 million.

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Way to unwind, Fed!

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