By SchiffGold
The Federal Reserve upped the ante in its efforts to hold short-term interest rates down this week, injecting longer-term cash into the financial system.
Last week, the New York Fed began running repurchase operations in an effort to inject liquidity into the financial system. The bank's repo operations started last Tuesday involving about $53 billion in debt instruments and continued through the week. The New York Fed injected over $270 billion in cash into the system last week and committed to continuing daily repo operations of at least $75 billion each through October