> "The Fed won't admit this," Cabana said, "but it looks and smells an awful lot like the monetary authority is financing the fiscal authority."
Frightening... if true. I hope Matt Levine's explanation (cited by mrosett) is the correct one.
But also, if short-term rates are spiking (even if it's a rather different type of shrt-term rate), does that mean that the Fed was incorrect to drop the rate at its last meeting?
Frightening... if true. I hope Matt Levine's explanation (cited by mrosett) is the correct one.
But also, if short-term rates are spiking (even if it's a rather different type of shrt-term rate), does that mean that the Fed was incorrect to drop the rate at its last meeting?