by Wolf Richter, Wolf Street:
The minutes mentioned it. New York Fed’s Perli added some background. The Fed will likely provide details at its March meeting.
By Wolf Richter for WOLF STREET.
No one has ever drained $2.2 trillion in liquidity through QT from the financial markets, as the Fed has done since July 2022, and there is no playbook to go by. Withdrawing liquidity too fast can cause some places to run dry while others are still awash in it. Normally higher yields cause liquidity to move where it’s needed, but if it drains too fast, there may not be enough time for yields to do their job distributing liquidity, and then something blows out, like the repo market did in 2019. An accident like that would cause QT to stop. And the Fed has consistently said it wants to avoid another accident, which is why it slowed QT in June 2024 so that QT can keep going further.
Where once the world feared the dark globalists’ drive to implement the Great Reset to lead the world into a planetary dystopia, now the world sees and believes in the power of righteousness at work in undoing all that evil. President Trump’s joint address to Congress on March 4, viewed by 36.6 million Americans, verbalized the start of the Great un-Reset with his “common sense revolution” that is awakening the entire world to the villains who have done their worst to make us suffer under their ungodly tyranny. Now you can hold your breath . . . A change is coming!
What do think Iran is going to do once we start bombing their nuclear facilities? They know that it is coming, and they have been preparing to respond. When Iranian missiles are raining down on Israeli targets and U.S. military bases throughout the Middle East, there will be no turning back. We will officially be at war with Iran. Needless to say, a war with Iran would be far different from our wars in Iraq and Afghanistan. The Iranians have 
