Fed’s Post-QT Pivot: +$275B Treasuries, -$191B MBS YoY
Six months after the Fed ended balance sheet runoff, its portfolio shows a clean pivot: Treasury holdings up $275B YoY, agency MBS down $191B.
Six months after the Fed ended balance sheet runoff, its portfolio shows a clean pivot: Treasury holdings up $275B YoY, agency MBS down $191B.
A plain-English guide to how the Fed creates reserves to buy bonds (QE) and lets them mature to shrink the balance sheet (QT), with 2026 numbers.