Wednesday, March 18, 2009
The Fed Engages In A Little OMO.
As anticipated, the Fed disclosed that it will purchase $300 billion in Treasuries to add liquidity to the economy and purchase $750 billion worth of those nasty mortgage bonds to free up the banks for lending. Over $1 trillion in commitments did much to dash people's confidence in the dollar as it closed at a two-month low today. Despite gloomy revelations in the Fed minutes, the stock market loved the ambitious plan and had another positive day.
Subscribe to:
Post Comments (Atom)
I just think the Fed is only doing what it can, and i have high hopes. Why do people get mad at the system knowing full well they can't do a beter job? For me, i trust Bernake and I guess we'll just have to wait and see what happens. I'm just glad they did something, which is beter than just watching the country fall apart....They really didn't give us the economic issues we have today, they are instead, spending their own money to get us out of the consequences that follow poor economic actions. I mean, I don't want high taxes when I grow up but, I sure don't want to experience hard economics forever
ReplyDelete