Fed Discount Window Weekly Update
This week’s Primary Credit activity at the Fed’s Discount Window:
This week’s primary credit balance was $1.7 billion, down from $2.1 billion a week ago.
We believe that the Fed will put its Fed Funds rate on a path to zero percent and that Fed Funds will be at 2% or below in 2025. It is difficult to imagine Fed Funds at 3% long-term given the United States’ $35 Trillion debt load - which will likely grow by another $1.5-2.0 Trillion before December 31st of this year.
