Rabo: “If One Atlas Shrugs, It Suggests A US Tax Grab, Capital Flight, Huge Malinvestment And Lower GDP Growth”

skwealthacademy Expand Rabo: “If One Atlas Shrugs, It Suggests A US Tax Grab, Capital Flight, Huge Malinvestment And Lower GDP Growth” 00 AM

By Michael Every of Rabobank

Let’s start with the Fed minutes. As Philip Marey notes, Fed Chair Powell suggested they could raise the IOER rate and the overnight RRP rate between scheduled meetings if downward pressure on money market rates became too big; rate and balance sheet policy should be based primarily on observed outcomes rather than forecasts, said some; and the FOMC viewed the rise in Treasury yields as reflecting the improved economic outlook, firming in inflation expectations, and expectations for increased issuance.…

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