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Bad News for Our Money - Thorsten Polleit - Mises Institute: "In the United States, the Federal Open Market Committee reiterated on April 29, 2009,
"to provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of up to $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt by the end of the year. In addition, the Federal Reserve will buy up to $300 billion of Treasury securities by autumn.[4]"
Once again the bailouts of congress pale in comparison to the activities of the federal reserve.
Friday, June 05, 2009
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