The Enterprise by Alexander Muse

The Enterprise by Alexander Muse

The Fed’s Empty Safety Net: Powell’s Reckless Gamble With US Liquidity

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Alexander Muse
Aug 15, 2025
∙ Paid

The Federal Reserve’s Reverse Repurchase Agreement (RRP) facility is not a household phrase, yet for years it has quietly functioned as a critical stabilizer for America’s financial system. At its peak in 2022, this overnight cash lot held more than $2.5 trillion, money parked by large institutions in exchange for ultra-safe Treasury collateral, ready t…

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