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| Fed Chairman Jay Powell |
The Federal Reserve will soon increase its purchases of short-term Treasury securities, Federal Reserve Chairman Jay Powell said in a speech to the National Association for Business Economics in Denver, today.
“My colleagues and I will soon announce measures to add to the supply of reserves over time,” he said.
Rather than purchase longer-dated securities, Powell said officials are now contemplating buying shorter-dated Treasury bills in order to rebuild the level of reserves in the system.
Somehow Powell doesn't think this will affect monetary policy.
“Neither the recent technical issues nor the purchases of Treasury bills we are contemplating to resolve them should materially affect the stance of monetary policy,” he said.
Of course, the only way it won't increase the money supply is if the Fed simultaneously drains funds from other parts of the Fed system.
Sometimes, I wonder if the Fed has any clue as to what it is doing.
They are really lucky they haven't blown up the economy, yet.
Accelerating price inflation is really the biggest threat right now.
-RW
They know EXACTLY what they are doing. The central banks are the most evil institutions in the world. They should all be arrested and tried by jury for treason. They undermine and destroy prosperity of of the masses and funnel to the corrupt, and fund tyrannical regimes. It is a national security issue, because it destroys the wealth of the people, and the people need to be wealthy to be able to defend themselves and educate themselves, and bring good about in society. Once again it is treason.
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