Central Banks

Fed announces $60B in monthly Treasury bill buying program

Fed announces repo policy

The Fed will purchase maturities up to one-year in a new repo facility that includes purchases dail and term repos twice a month.

The statement emphasizes that this isn’t a change in the monetary policy stance.

“These actions are purely technical measures to support the effective
implementation of the FOMC’s monetary policy, and do not represent a
change in the stance of monetary policy,” the statement says.

There is a lively debate about whether this is QE but it clearly isn’t from my perspective.

Risk trades are at the best levels of the day. The S&P 500 is up 51 points to 2989.0


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