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As reserves decline, the dispersion in the fed funds rate widens (chart below), making it difficult for the Fed to control rates. That's why the end of quantitative tightening may come sooner than expected. pic.twitter.com/UJk7NP8hEv

— (((The Daily Shot))) (@SoberLook) January 28, 2019

via Twitter https://twitter.com/SoberLook

January 28, 2019 at 12:42PM