by Summary:
Here from 10 years ago in NYT they are doing the same thing this week in earnest and have obviously capped the bond rally: But inside the Operations Room, on the ninth floor of the New York Fed’s fortresslike headquarters, there is no time for second-guessing. Here the second round of what is known as quantitative easing — QE2, as it is called on Wall Street — is being put into practice almost daily by the central bank’s powerful New York arm. Each morning Mr. Frost and his team face a formidable task: they must try to buy Treasuries at the best possible price from the savviest bond traders in the business. The smallest miscalculation, a few one-hundredths of a percentage point here or there, could unsettle the markets and cost taxpayers dearly. It could also embolden critics
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Here from 10 years ago in NYT they are doing the same thing this week in earnest and have obviously capped the bond rally: But inside the Operations Room, on the ninth floor of the New York Fed’s fortresslike headquarters, there is no time for second-guessing. Here the second round of what is known as quantitative easing — QE2, as it is called on Wall Street — is being put into practice almost daily by the central bank’s powerful New York arm. Each morning Mr. Frost and his team face a formidable task: they must try to buy Treasuries at the best possible price from the savviest bond traders in the business. The smallest miscalculation, a few one-hundredths of a percentage point here or there, could unsettle the markets and cost taxpayers dearly. It could also embolden critics
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Stavros Mavroudeas writes Το ψηφοδέλτιο της ΑΝΤΑΡΣΥΑ-Ανατρεπτική Συνεργασία στις ευρωεκλογές
Editor writes Real-world economists take note!
Angry Bear writes Inflation Is Hurting the Fast Food Giants
Mike Norman writes Cleveland Fed for May
Here from 10 years ago in NYT they are doing the same thing this week in earnest and have obviously capped the bond rally:
But inside the Operations Room, on the ninth floor of the New York Fed’s fortresslike headquarters, there is no time for second-guessing. Here the second round of what is known as quantitative easing — QE2, as it is called on Wall Street — is being put into practice almost daily by the central bank’s powerful New York arm.
Each morning Mr. Frost and his team face a formidable task: they must try to buy Treasuries at the best possible price from the savviest bond traders in the business.
The smallest miscalculation, a few one-hundredths of a percentage point here or there, could unsettle the markets and cost taxpayers dearly.
It could also embolden critics at home and abroad who say QE2 represents a dangerous expansion of the Fed’s role in the markets.
“We are looking to get the best price we can for the taxpayer,” said Mr. Frost, a buttoned-down 34-year-old in a striped suit and rimless glasses.
The Fed’s QE2 Traders, Buying Bonds by the Billions - Interesting insight on the Fed’s bond buying program... http://tumblr.com/xaa1af7zz1— bluhorseshoe212 (@bluhorseshoe212) January 18, 2011
Probably the same guy there today .. only now the guy is 44 instead of 34.... who knows...
USD monopolist driving down the prices of USD bonds thus raising USD interest rates in the middle of a global viral pandemic when everybody is probably seeking credit...
How stupid are these people?????
Nothing has changed with these people... never make an adjustment... just not ever trained to do so...