Investors and the press love to read the tea leaves of the FOMC meeting minutes. Most in the press believe July 31st Federal Reserve Open Market Committee meeting minutes confirm quantitative easing, the $85 billion a month in mortgage backed securities and asset purchases, will be reduced starting in September. We don't know that answer but we can guess. From the minutes:
The CBO has a new report on those nasty, toxic mortgage backed securities the Federal Reserve bought, along with a host of other crud from the financial meltdown.
The Federal Reserve, and by that I mean you and me, owns quite a bit of interesting things these days. Most of it is worth pennies on the dollars that the Fed bought it for.
Recent comments