5 Months of QT Down

We’ve made it to November. The Fed continues its Quantitative Tightening (QT) path. With each passing day the cries for a Fed Pivot grow. On some level we must accept that the economic outlook for the near-term future does not look good. In 4 Months of QT Down, on October 5 the total balance sheet was standing at $8,759,053,000,000 ($8.76 trillion). The latest release on November 2 the balance stood at $8.68 trillion. The reduction in October is as follows: On October 5 the US Treasury (UST) balance was $5.634 trillion.