The repo markets mystery reminds us that we are flying blind

Financial Times/Gillian Tett/9-20-2019

“But here is the bad news: the fact that a ‘temporary’ cash squeeze created so much drama shows that neither the Fed nor investors completely understand how the cogs of the modern financial machine mesh.”

USAGOLD note:  Tett dives into the Fed’s cash dilemma and warns of a monetary system facing problems it has not encountered before.

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