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Hmm, it does seem the balance sheet has reached a plateau, but the curve only rounded to it around March:

https://fred.stlouisfed.org/series/WALCL

Funny how debt is ignored by big media and the short fiat rates get all the attention.

Edit: Fed balance sheet relative to GDP, 2003 to present:

https://fred.stlouisfed.org/graph/?g=Pvii



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