SFY - Repo And The Man: April Showers

The Fed January Minutes

As always, the Fed’s when the Fed’s FOMC meeting minutes are released, there’s always a few items of interest besides the minute parsing of phrasing. For example, in the just-released January minutes, this nugget:

Some market participants suggested that the Federal Reserve's actions in the fourth quarter to maintain ample reserve levels might have contributed to some degree to the rise in equity and other risk asset prices.

Was the Fed going for ironic understatement?

But the more important part came in the next section:

At the current pace of $60

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