“Not Enough” Say Markets To Fed’s Promise of Unlimited QE
What it means when the Fed can spend infinite cash
Happy Monday Blockfolians
The Fed announced today the most dramatic expansion of its ability to intervene in the markets since…well…ever. Whereas last week they had committed to up to $700 billion in purchases of Treasuries and mortgage backed securities, this week they announced that the amount of those purchases was unlimited and would now include an array of other asset categories including corporate bonds.
Unfortunately, the stimulus didn’t have the desired effect.
Of course, the bitcoiners had the meme for the moment:
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A Really Big Number That You Should Be Paying Attention To
That’s the amount of of cash at the Federal Reserve, according to a 60 Minutes interview with Fed President Neel Kashkari last night.
The Onion knew.