Just a friendly heads-up to all the Bulls bowing and murmuring prayers to the Golden Idol of the Federal Reserve: the Fed just slashed its balance sheet–yes, reduced its assets. After panic-printing $410 billion in a few months, a $24 billion decline isn't much, but it does suggest the Fed might finally be worrying about the reckless, insane bubble it inflated:
Just to review the numbers, which you can ponder on this chart from the St. Louis Federal Reserve (FRED).
August 28, 2019: $3.760 trillion
December 25, 2019: $4.165 trillion
January 1, 2020: $4.173 trillion
January 9, 2020: $4.149 trillion
There are two noteworthy items here. One is of course the panic-printing of $410 billion between September 1, 2019 and January 1, 2020 as the Fed's assets zoomed from $3.760 trillion to $4.173 trillion in a mere 17 weeks.