Hanno Lustig @HannoLustig · 04 Jan 2025
8/Take the Fed. Between 1951 and 2008, the Fed balance sheet as a fraction of GDP was stable. Over this period of more than 50 years, the Fed’s cumulative Treasury purchases are worth only 12% of 2008 GDP. Between 2008 and 2021 , a period of only 13 years, the Fed absorbed 35% https://t.co/YOw4QSrIXS
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