Fed balance sheet tops $8 trillion for first time
Central bank appears to have sold around $160M of its corporate debt holdings since Monday
'Massive' inflation surge may come from Fed caution: Dan Niles
Satori Fund founder Dan Niles argues the overall market could 'get hammered' if the Federal Reserve is 'behind the curve.'
The Federal Reserve's balance sheet topped $8 trillion for the first time, weekly data published on Thursday by the U.S. central bank on its holdings showed.
The report also showed the Fed appears to have sold around $160 million of its corporate debt holdings since Monday, following the announcement it would unwind its nearly $14 billion corporate credit portfolio. As a first step, the central bank began selling its stakes in 16 bond exchange-traded funds on Monday.
CLICK HERE TO READ MORE ON FOX BUSINESS
The Fed's credit facility was just one of many emergency measures launched last spring to shore up financial markets badly shaken by the coronavirus pandemic's rapid spread and disruption to the economy. While the Fed's backstop restored liquidity to the credit market, the facility was ultimately little used and the sale of its holdings is not expected to have serious effects on the market.