This just in! The Fed will allow schools and hospitals to use its $1.5T repo line, letting any school with $1B in Treasuries temporarily exchange them for $1B cash for 3 months. "We have no idea why you wanted this," said a confused Fed. "Are you sure you know what we do?"
This is so far beyond monetary policy it’s really a return to the dark ages because there is “no view” — maybe with great efforts we can make it a heroic age.