Federal Reserve Finds $600 Billion in the Couch
Trying to follow the amount of money the Federal Reserve has pumped into the economy (and the banks) can be truly mind-boggling, and it’s not getting easier. The Fed announced plans Wednesday to purchase another $600 billion worth of Treasury bonds and to buy more of the Treasury’s debt—up to $900 billion by June. The timing may not be a coincidence. A former Fed governor tells the New York Times that Fed Chairman Ben Bernanke would prefer more stimulus money from Congress, but the new Republican majority in the House makes that unlikely.
Posted by
on November 3, 2010. Filed under