By quoth the raven – Zerohedge
The Federal Reserve finally made it official today: in a 9–3 vote, the Fed cut rates to 3.50–3.75% and—more importantly—announced fresh balance sheet expansion through Treasury bill purchases.
Whether we want to call them “Reserve Management Purchases” or use the adult, non-fiction name, quantitative easing, doesn’t change the outcome. Liquidity is being conjured out of thin air again, just as the most indebted federal government in U.S. history needs someone to quietly buy its bills for it. Continue reading “The Fed Hits CTRL+Print Again”