No, the Fed hasn’t lost control of overnight rates. Zoltan Pozsar is wrong.

Note: This post first appeared on Patreon on 31 May 2018

This post is a direct response to the politics masquerading as economics embedded in a Bloomberg post about the Fed's interest on excess reserves (IOER). The Bloomberg post is based on the analysis of Credit Suisse analyst Zoltan Pozsar, a fo...

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