{"content":"You just saw this picture, and there's one key number --#MarketPullback SOMA: $14,825,704,800 Many people don't understand what this means, but the fundamental problem is one: Has the Fed secretly started quantitative easing again? Simply put, technically, yes; in mechanical terms, it doesn't; in terms of market structure, it hasn't stopped at all. I'll give you an example and you'll understand - Your family has decided to repay a loan with a maximum of 5,000 yuan per month (limit) (QT), but there comes a month when suddenly 8,000 yuan of debt is due. You can't evade payment, so you add 3,000 to continue "buying" part of the debt, and then you pay back slowly, making sure you don't exceed your budget limit of 5,000 This "SOMA add-on" of 3,000 yuan is Increasing the size of SOMA offsets means that QT is starting to waver. What the Fed is doing now is this: They talk about QT, but in reality, they are secretly buying bonds to offset losses. The name of balance sheet tightening is still there, but the margin for liquidity is changing Have you ever given a thank you gift to a content creator? Try it now 👌$XRP {spot}(XRPUSDT)","images":["https://d2kdcqywr8ua22.cloudfront.net/uploadfile/article/blog/2025052025/05/23/7c94aa152b004d178ea41dcde02eb343.jpg"],"tags":[],"tradingPairs":["XRP/USDT"],"quotearticleid":0}