- The private sector balance increased by over $293+ billion in March 2022.
- Credit creation from commercial banks was strong at $174B+.
- The seasonal pattern is down until early-to-mid May as the market negotiates a series of liquidity sinkholes from federal tax collection.
- Fed rate increases and tapering are happening, yield curves are inverting. A recession is now only a question of time.
- G5 fiscal flows are about to turn an inflection point back upwards but are still bottoming.
For further details see:
The White House, Fed, Inflation, And Flow Of Funds For April 2022