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Heresy Financial
Jun 16, 2023
The Federal Reserve finally blinked and announced a pause to their rate hikes, and they told us what is coming next. Number one, prices are never returning to where they were before 2020.
Number two, the reverse repo facility will help refill the government’s treasury general account. And number three, the big one here, Jerome Powell, was explicitly asked about the deteriorating financial position of the United States with their high deficits and high debt.
And he was asked if the Fed would finance government debt. And Powell explicitly, at least, said very clearly no, under no circumstance. This is huge if true.
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