Yeah, I had said last year, the Fed has so much ammo, so many powers, so many levers, it's hard to believe they won't manage a soft landing.

They also have the huge repo facility and then the soverign shadow debt facility they don't even report.

However, they're not really using their powers. They're afraid too, unlike say Japan. They need to sell their treasuries and MBS of certain dates to target the yield curve so it isn't inverted. They could do so much more to make the numbers work out like they want, because all these numbers are fugazi, but they're afraid to be seen doing anything. They fear for the longevity of these powers if they were to openly wield them.