>This is wrong, but I'm not sure for what reason. Could you explain why you think this? Overnight repurchase agreements give banks seemingly off the books mone

>This is wrong, but I'm not sure for what reason. Could you explain why you think this? Overnight repurchase agreements give banks seemingly off the books money to invest in commodity and equity markets. They are a direct driver of inflation. Banks are able to maintain positions and their balances by purchasing Treasury products at 11:59pm and having the fed buy them back at 12:01am. They are supposed to be used strictly for emergency liquidity situations but as you can see from the chart we got very far away from that. They are finally coming down but still very high. They are the primary reason for the record inflation. https://fred.stlouisfed.org/series/RRPONTSYD https://fred.stlouisfed.org/series/RRPONTSYD