Fed Credit & The US Money Supply – The Liquidity Drain Accelerates

“We last wrote in July about the beginning contraction in outstanding Fed credit, repatriation inflows, reverse repos, and commercial and industrial lending growth, and how the interplay between these drivers has affected the growth rate of the true broad US money supply TMS-2 (the details can be seen here: “The Liquidity Drain Becomes Serious” and “A Scramble for Capital”).”

https://www.zerohedge.com/news/2018-10-10/fed-credit-us-money-supply-liquidity-drain-accelerates