Bob draws on the work of Robert Aro to show how the Fed's massive reverse repo operations explain (a) why consumer price inflation wasn't worse after Covid and (b) why the Fed's tightening hasn't yet led to a market crash.

Related:
- https://mises.org/podcasts/human-action-podcast/robert-aro-feds-reverse-repo-trick 
- https://infineo.ai/podcast/71

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