The Fed’s “Not QE” Is Morphing into “QE4ever”
Another week, another new and expanded repo market intervention by the Federal Reserve. On Thursday, the Federal Reserve Bank of New York intervened twice with fresh liquidity injections. Fed officials raised their offerings for overnight repos up from $75 billion to a staggering $120 billion. This comes on top of the $60 billion per month in Treasury bill purchases that...
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