Here's the updated (and zoomed-in) version of the FRED chart we saw in March 17's "Fed Balance Sheet: The Recent Ructions Have Wiped Out All The Quantitative Tightening Of the Last Four Months".
The Fed updated their balance sheet ... now ~two-thirds of QT has been reversed. pic.twitter.com/mmaeLJuV2i
— Jim Bianco biancoresearch.eth (@biancoresearch) March 23, 2023
[securities held outright are still decreasing but more than offset by repo+loans]
Add the $686 billion the the U.S. Treasury has withdrawn and disbursed from the Treasury General Account at the Fed since May 11, 2022 and you have a pretty darn stimulative environment for what is supposed to be tightening
