Joseph Wang
@FedGuy12
Followers
191K
Following
12K
Media
717
Statuses
5K
Subscribe at https://t.co/VGtUvtX2QK for latest thoughts and analysis. YouTube: https://t.co/wTjbN1iNQ8
Joined July 2012
The TGA rebuild will send the RRP to 0, reserves to multi-year lows, and push up repo rates. Along with the recent spike in SRF usage - there is cover for an outright end to QT. This could be a compromise to the intensifying disagreement on the FOMC.
13
53
273
Markets Weekly July 12, 2025. Tariff Man returns.Silver breaking out.Pressure builds on Powell.
14
15
85
Almost all political donations by Fed employees go to one party. The Fed is already politicized.
73
143
699
RT @Brad_Setser: Taiwan's central bank confirmed intervention in the month of June; its reserves rose by over $5b -- . The $24b plus rise i….
0
26
0
Markets Weekly July 4, 2025. UK Market Kerfuffle.BBB and NFP.Trade War Heating Up.
19
9
69
RT @Geiger_Capital: Friendly Reminder:. As President, Trump has already been given a preview of tomorrow’s jobs number. .
0
140
0
RT @adam_tooze: According to Goldman Sachs, China is buying a lot more gold than the PBoC is declaring, and, in part on that basis, it is p….
0
65
0
🤣.
Absolutely incredible…. Trump’s handwritten note to Powell:. “Jerome — You are, as usual, ‘Too Late’. You have cost the USA a fortune and continue to do so. You should lower the rate - by a lot!”
39
19
157
Trump can lower rates by nominating his own Chair and shortening the maturity profile of Treasuries. But that will come at the cost of significant dollar depreciation. Low rates sound risk positive, but the impact could be overwhelmed by capital flight.
28
94
447
Guys the official White House site is offering a stream of LoFi music to study too. 😂
27
14
185
I deleted my post on the GENIUS act as I was looking at an earlier version of the bill, where the one that passed took out the section on Fed reserves.
16
8
124
Making Waller Fed Chair probably makes the most sense. The market already knows him and is comfortable with his judgement. And Trump would get to name two loyalists to the Board as replacements for Kugler and (probably) Powell.
25
32
188
Banking regulators found that the SLR was frequently binding, so SLR reform will matter. Also they don't think banks will just buy back shares because the capital requirements on the holding company level are little changed, though lower on the bank level.
23
37
193
RT @ozzy_livin: Mr Rounds 🏦 Interesting questioning today regarding the Fed returning to a scarcity based (pre-GFC) framework. Jerome Powel….
0
6
0
Bowman supports a July cut! .(She has typically been hawkish.)
33
53
380
Bob is a very sharp macro thinker. Check out his new service!.
After 3 years of writing morning threads here free for everyone, I’ve decided to transition this daily work to a paid subscription on the blog app (link next). While I look forward to creating an engaged audience there, don't worry, I still plan to be very active here. Thread.
15
8
81