Fed launches Treasury bill buys in bid for 'ample' reserves

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Published : November 08th, 2019
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Category : GoldWire

The Federal Reserve said today that it will start buying about $60 billion per month in Treasury bills to ensure "ample reserves" in the banking system, but emphasized the new program does not mark a change in monetary policy.

The purchases, which will begin Oct. 15, respond to recent disruptions in short-term money markets that pushed the target federal funds rate to the top of its target range, and at least once above it. The "technical" program, which Fed Chair Jerome Powell had signaled earlier this week was on its way, will continue at least until the second quarter of 2020, the central bank said. ...

... For the remainder of the report:

https://www.reuters.com/article/us-usa-fed-bo...s-treasury-b...

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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