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Is It Enough? Michael Howell on Money Market Turbulence, Standing Repo Facility, and Why Fed Balance Sheet Expansion Is Inevitable
Manage episode 518765921 series 3627237
Monetary Matters listeners can get 20% discounted access to an annual subscription of Michael Howell’s Capital Wars here: https://capitalwars.substack.com/MonetaryMatters
With the Federal Reserve announcing the end of Quantitative Tightening (QT) on December 1st, Jack welcomes Michael Howell of GL Indexes and the Capital Wars Substack back to share an update on his measure of Fed liquidity and his outlook for 2026. Howell explains why Fed balance sheet expansion is inevitable. Recorded on November 6, 2025.
Pieces discussed:
“The Return Of ‘Not-QE, QE’ (Part 1),” October 31, 2025: https://capitalwars.substack.com/p/the-return-of-not-qe-qe-part-1
“The Return Of ‘Not-QE, QE’ (Part 2),” November 1, 2025: https://capitalwars.substack.com/p/the-return-of-not-qe-qe-part-2
“Global Liquidity Watch: Weekly Update,” November 4, 2025: https://capitalwars.substack.com/p/global-liquidity-watch-weekly-update-c8e
Also:
“Scrambled Eggs, The Fed’s Latest Policy Directive: ‘FSSF-Off,’” November 9, 2025: https://capitalwars.substack.com/p/scrambled-eggs
Follow Michael Howell on Twitter https://x.com/crossbordercap
Follow Jack Farley on Twitter https://x.com/JackFarley96
Follow Monetary Matters on:
Apple Podcast https://rb.gy/s5qfyh
Spotify https://rb.gy/x56dx5
YouTube https://rb.gy/dpwxez
179 episodes
Manage episode 518765921 series 3627237
Monetary Matters listeners can get 20% discounted access to an annual subscription of Michael Howell’s Capital Wars here: https://capitalwars.substack.com/MonetaryMatters
With the Federal Reserve announcing the end of Quantitative Tightening (QT) on December 1st, Jack welcomes Michael Howell of GL Indexes and the Capital Wars Substack back to share an update on his measure of Fed liquidity and his outlook for 2026. Howell explains why Fed balance sheet expansion is inevitable. Recorded on November 6, 2025.
Pieces discussed:
“The Return Of ‘Not-QE, QE’ (Part 1),” October 31, 2025: https://capitalwars.substack.com/p/the-return-of-not-qe-qe-part-1
“The Return Of ‘Not-QE, QE’ (Part 2),” November 1, 2025: https://capitalwars.substack.com/p/the-return-of-not-qe-qe-part-2
“Global Liquidity Watch: Weekly Update,” November 4, 2025: https://capitalwars.substack.com/p/global-liquidity-watch-weekly-update-c8e
Also:
“Scrambled Eggs, The Fed’s Latest Policy Directive: ‘FSSF-Off,’” November 9, 2025: https://capitalwars.substack.com/p/scrambled-eggs
Follow Michael Howell on Twitter https://x.com/crossbordercap
Follow Jack Farley on Twitter https://x.com/JackFarley96
Follow Monetary Matters on:
Apple Podcast https://rb.gy/s5qfyh
Spotify https://rb.gy/x56dx5
YouTube https://rb.gy/dpwxez
179 episodes
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