Fed Adopts Outcome-Based Forward Guidance, Will Keep Rates Near Zero For At Least 3 Years
Headed into the September meeting, the Fed wasn’t expected to make meaningful changes to the somewhat nebulous forward guidance inContinue Reading
Category: fomc
Fed Not Ready To Roll On Yield-Curve Control
September implementation may be a stretch.
Minutes Show Fed Palpably Concerned Second Virus Wave Could Trigger ‘Pessimistic Projection’
“…the staff judged that a more pessimistic projection was no less plausible than the baseline forecast.”
As Fed Cuts Bond Buying With Balance Sheet Near $7 Trillion, Some See ‘Unqualified Good News’
Signs of stress are abating. For now, anyway.
As Fed’s Balance Sheet Tops $6 Trillion, Foreign Central Banks Sell Another $22 Billion In Treasurys
You can draw your own conclusions.
Fed Effectively Tells Banks To Increase Leverage With Rule Upping Exposure Capacity By $1.6 Trillion
“…their exclusion will also not incentivize risk-taking by banking organizations.”
Fed: Stop Selling Treasurys Into An Illiquid Market
“This facility should [provide] an alternative temporary source of US dollars other than sales of securities in the open market”.
Jerome Powell To NBC: ‘We’re Not Going To Run Out Of Ammunition. That Doesn’t Happen.’
“Essentially, the answer to your question is ‘no'”.
Fed Moves To Support Money Market Funds In Latest GFC Flashback
Are all the leaks plugged now? Somehow, I doubt it.
Fed Unveils Another Emergency Facility, Says Primary Dealers Can Post Stocks For Cash
“Credit extended may be collateralized by a broad range of IG debt and equity securities”.
Fed Reinstates Emergency Commercial Paper Funding Facility In Move To Avert Crisis
“The commercial paper market has been under considerable strain in recent days”.
Nomura’s McElligott: We’re Seeing ‘Nervous Dollar Hoarding Demand’
“…USD funding pressure continues to mount despite the positive optics of the coordinated global CB FX swap line actions”.
Shock And Awe: Fed Cuts Rates To Zero, Announces $700 Billion In QE, Enhances Swap Lines
Now this a “whatever it takes” moment.