Limits on dealer balance sheet capacity were a key factor in March 2020 turmoil.
JP Morgan likes to say that this is result of post-GFC regulations, making it seem like an absolute and externally imposed limit. In this footnote, Fed politely pushes back.
federalreserve.gov/publications/f… https://t.co/iXOrxbA49t
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow
May 18, 2023
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow the money,…