How does the Federal Reserve actually supply liquidity to the financial system? And why have markets become so dependent on the Fed since 2008?

Lance Roberts & Michael Lebowitz break down the complete Fed liquidity toolkit—from QE and QT to the Standing Repo Facility, IORB, ON RRP, OMO, and the Discount Window—and explain why these tools create the “floor and ceiling” of overnight rates.

0:00 - INTRO

0:18 - Nvidia Kill It; Rate Cut Odds Decline

4:06 - Markets Under Pressure; Setting Up for Rally

10:29 - Markets' Post-Nvidia Relief Valve

15:53 - Oracle, CoreWeave, and CDS's Explained

18:24 - Is There Enough Credit to Fund AI Buildouts?

20:30 - Financial Markets are Like Consumers - they'll find the money

22:16 - Begging for ETF's - Be careful what you ask for

25:20 - Centralized Financial Markets are Swallowing BitCoin

28:24 - How the Fed Controls Liquidity

30:11 - Why is There Stress in the Liquidity Markets?

37:18 - The Linkage Between Liquidty & Function of Economy

39:04 - The Fed is Closer to QE Than Anyone Thinks

39:54 - Today's YouTube Poll

41:14 - What Will Markets Do Today?

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📍 More at RealInvestmentAdvice.com

Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Portfolio Manger, Michael Lebowitz, CFA

Produced by Brent Clanton, Executive Producer

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Watch Today's Full Video on our YouTube Channel:

https://www.youtube.com/watch?v=GnB1pog_r_I&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1

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Articles Mentioned in Today's Show:

"Oracle And CoreWeave CDS Spreads Widening: Omen Or Jitters"

https://realinvestmentadvice.com/resources/blog/oracle-and-coreweave-cds-spreads-widening-omen-or-jitters/

"How The Fed Deals Liquidity: The Monetary Toolbox"

https://realinvestmentadvice.com/resources/blog/how-the-fed-deals-liquidity-the-monetary-toolbox/

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The latest installment of our new feature, Before the Bell, "Why This Pullback Isn’t a Panic" is here:

https://www.youtube.com/watch?v=bb8BeVp7ID8&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1

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REGISTER for our 2026 Economic Sumnmit, "The Future of Digital Assets, Artificial Intelligence, and Investing:"

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Our Previous Show, "Pension or Lump Sum - What's the Smarter Move?" is here:

https://www.youtube.com/watch?v=WoSPpnkGW2o&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1

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