Steno Signals #32 – When will QT end? Introducing “The Waller Rule”

Waller from the FOMC has hinted when the QT process ends. The current debt ceiling stand-off is likely to prolong QT in this Waller framework, while the terminal value of USD reserves remains the same.
2023-01-22
<a href="https://stenoresearch.com/author/andreas/" target="_self">Andreas Steno</a>

Andreas Steno

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Waller from the FOMC has hinted when the QT process ends. The current debt ceiling stand-off is likely to prolong QT in this Waller framework, while the terminal value of USD reserves remains the same.
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