Checks are never really “in the mail.”
When trillions of dollars move between two places, or when they just sit in between, that sum is often referred to as a “float.” In the long era of easy money and super low rates, those huge sums don’t matter much. Now they do. With interest rates rising and the Federal Reserve fighting to contain inflation, only one percent of that mountain of money is serious money. That will change things for companies and individuals, for better or for worse.
