Praxis Financial Publishing LLC

/END As the levee slowly breaks for small banks across America, the shelf charter may prove to be an appealing option for private capital seeking to capitalize and enter banking. For more information on the shelf charter: thegallatin.com/news/shelf-cha…

The latest article Praxis subscribers received, before the Fed announced plans to slow the pace of balance-sheet runoff. The narrative is that slowing quantitative tightening, or QT, allows for prolonged balance-sheet shrinkage after the Fed doubled its portfolio in response to the pandemic. In reality, slowing QT is the start of an easing cycle that will be in full swing sooner than many appreciate.

Fed easing will be more aggressive than investors expect. Why? A thread

GDP tends to be revised toward GDI. And GDI leads GDP into recessions. On Sept. 3, Praxis published "Boom Or Bust? It Depends On Where You Look." If you read @PraxisFinPub, you would have been prepared for today's big downward revision to the personal consumption component of GDP.

Two key economic indicators are sending divergent signals, suggesting that a recession may already be underway.

Praxis is now open for subscriptions! To subscribe, please click here: praxisfinpub.com The first article for subscribers is available on the site. An array of sample articles is also available free of charge.

@profstonge The full interview with former Fed President @RobSKaplan can be found on the Praxis website here: praxisfinpub.com/sample-work

Dallas Fed President: Bank Crisis Entering “Third Phase"

While leading the Dallas Fed, Robert Kaplan warned that inflation wouldn’t be transitory and wanted to dial back QE well before the Fed began doing so. What worries @RobSKaplan now? /1

The debate around a government backstop of all bank deposits speaks to a deeper issue -- fiscal policy is undermining monetary policy. The cost of backstopping trillions in bank deposits is higher and more nuanced than many appreciate. static1.squarespace.com/static/63c0b55…

The debate over how to define the Fed’s renewed balance-sheet boom misses a bigger point: Overt QE will probably return sooner than many expect. The latest from Praxis: tinyurl.com/5ykn6wy4

One of the biggest assumptions about the U.S. housing market is increasingly faulty: supply isn’t as short of demand as commonly presumed. The latest from Praxis on what that means for the housing market and the broader economy: tinyurl.com/3ju6ea5x

The latest from Praxis. linkedin.com/feed/update/ur… If you’re interested in reading more pieces like this, join our mailing list to be notified when subscriptions open!

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