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The Federal Reserve: It’s About Money, Not Interest Rates
What is Operation Twist? What’s really going on? Is this QE3? Will “It” work? Our view: The real problem is not interest rates, it is the flow of money and credit. Operation Twist will likely do little to fix this log jam. While the bond market will be impacted by the Fed’s actions, this does not mean the money and credit tap is freely flowing.
FOMC Statement : On Hold for Longer
At today’s FOMC meeting, the “wait-and-see” Fed chose not to engage in additional quantitative easing (QE) as many had hoped. Instead, the FOMC chose Option 1 from the list of possible additional policy measures: staying on hold for a more specific period of time.
What is Operation Twist? What’s really going on? Is this QE3? Will “It” work? Our view: The real problem is not interest rates, it is the flow of money and credit. Operation Twist will likely do little to fix this log jam. While the bond market will be impacted by the Fed’s actions, this does not mean the money and credit tap is freely flowing.
FOMC Statement : On Hold for Longer
At today’s FOMC meeting, the “wait-and-see” Fed chose not to engage in additional quantitative easing (QE) as many had hoped. Instead, the FOMC chose Option 1 from the list of possible additional policy measures: staying on hold for a more specific period of time.
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