US: $4.000B Coupon Purchase 2020-05-13 NY Fed treasury securities operations
Monopolies, quasi-monopolies and cartels are inherently exploitive and thus evil.What was “normal” for the past two decades was to turn a blind eye to the moral and financial bankruptcy of the American culture, the rot at the heart of its social, …
They merely repeat the words, as it is intended. With major fanfare and widespread praise, the Federal Reserve weeks ago had announced it was going to buy corporate bonds. Well, not actual bonds but ETFs. It hasn’t bought a single one of those, either, at least not until today and yet the program is being […]
From a monetary policy perspective, smooth is what you are aiming for. What central bankers want in this age of expectations management is for a little bit of steady inflation. Why not zero? Because, they decided, policymakers need some margin of error. Since there is no money in monetary policy, it takes time for oblique […]
Following the Federal Reserve Board’s announcement establishing the Term Asset-Backed Securities Loan Facility, and the announcement of updated terms and conditions, the New York Fed has released an initial set of Frequently Asked Questions to address …
Rumor has it that China will say bye bye to the trade deal. Futures were down when that “news” hit the Twitter. Now they’re up.
Gold is consolidating. Here’s what to look for to signal that it’s something worse.
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
Fed QE $11.000B Coupon Purchase 2020-05-12
As Jackson Browne put it: Don’t think it won’t happen just because it hasn’t happened yet.We can summarize all that will unfold in the next few years in one line: The way of the Tao is reversal. This is the opening line of Chapter 40 of Lao T…