After Fed Trims ON RRP Rate by 5 Basis Points on Top of Rate Cut, ON RRPs Plunge to $98 Billion, Lowest since April 2021, -$2.3 Trillion from Peak, on the Way to Zero | Wolf Street

QT has only drained ON RRPs so far, but not Reserves, which are still where they’d been when QT started in July 2022. QT has a long way to go.
By [Wolf Richter](Read more...et.com/author/wolf-richter/)' target='_blank' rel='nofollow'>Read more... for [WOLF STREET](Read more...
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