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๐Ÿ“‰ According to The Kobeissi Letter, the Fedโ€™s balance sheet shrank by another $17B last month, dropping to $6.7T โ€” the lowest level since April 2020.


๐Ÿ“Š Since April 2022, the Fed has reduced its balance sheet by $2.3T (about 25%), nearly 48% of the post-COVID expansion.
โณ In March, the pace of QT slowed from $60B to $40B per month, signaling a more cautious approach.
#Fed # QT #Macro # Bonds
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