Investing

As Fed’s Powell Spoke at His Press Conference, the Market Gave Him a Taste of a Taper Tantrum

As Fed’s Powell Spoke at His Press Conference, the Market Gave Him a Taste of a Taper Tantrum

  By Pam Martens and Russ Martens: January 30, 2020 ~ The typically calm and unruffled Fed Chairman Jerome (Jay) Powell had a furrowed brow yesterday as he walked to the podium at his press conference at 2:30 p.m. It was clear from the outset that Powell had been put on a short leash as to what he could and could not say about the underpriced repo loans that the Fed has authorized the New York Fed to shower on the trading houses of Wall Street to the tune of hundreds of billions of dollars per week since last September 17. This is an unprecedented action by the Fed when there is no known financial crisis occurring. As we reported on Monday, the New York Fed has pumped a cumulative $6.6 trillion into those Wall Street trading houses in just the past four months – a third of the amount … Continue reading

Source: wallstreetonparade.com

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