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by uup
1368 days ago
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A lot of money did end up in normal markets. There is a lot of data for this. For instance, the Fed offers something called a reverse repo facility that allows institutions to deposit money overnight at the Fed. This is typically leveraged by money market funds. Over the course of the pandemic, the amount of reverse repo operations grew from 0 to over $2T. A lot of the expansion was done via Covid stimulus, which put money directly into the hands of businesses and individuals. Unsurprisingly, people spent this money on all types of stuff, including equities and real estate. |
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