Bidenomics 101 (Mortgage Rates) Conforming 30Y Rate UP 155% Under Biden, Home Prices UP 32% (Fed Balance Sheet Still Exceeds $8 Trillion, UP 10% Under Vacation Joe)

confoundedinterest17 #bubble, #inflation, #wine, @MetreSteven @JeffSnider_AIP @DiMartinoBooth @bondstrategist @RaoulGMI @LukeGromen @dlacalle_IA @EconguyRosie @profplum99 @SantiagoAuFund @biancoresearch @pboockvar @SriKGlobal, Agency MBS, Bank of England, Bank of Japan, Banking, Brexit, CMBS, CRE, Credit, ECB, Economy, Existing Home Sales, fannie mae, Fed, Freddie Mac, GDP, Gold, Housing, Inflation, Jobs, Mortgage, New Home Sales, Powell, REITs, russia, Silver, SPX, Stocks, Taylor Rule, Treasuries, Treasury, Uncategorized, Volatility, Wages, Yellen, Yield Curve September 3, 2023 1 Minute

Under Bidenomics, there is still too much Fed monetary stimulus in the form of >$8 trillion on its balance sheet. While the biggest surge in Fed activity occurred with Covid, The Fed has added 10% to its balance sheet under Billions Biden.

Despite not backing off the assets purchases by The Fed, conforming 30Y mortgage rate is still up 155% under Bidenomics.

Yes, The Fed is raising its target rate to cool inflation, but doing little with its balance sheet.

The Case-Shiller national home price index is up 32% under Vacation Joe!

It seems prices are out of control and The Fed refuses to trim its balance sheet. But don’t worry, Vacation Joe is probably on yet another vacation while Maui and Flordia suffer and The Ukraine war is seeing bodies pile up. Meanwhile, he still hasn’t visited East Palestine Ohio like promised.