After weeks of repurchase market operations by the Federal Reserve in response to stress is in the banking system, the Fed took the next step towards launching quantitative easing this week.
While the Fed did not come out and openly acknowledge that it has started quantitative easing, consider the following from the Wall Street Journal:
“The Federal Reserve will soon increase its purchases of short-term Treasury securities to avoid a recurrence of the unexpected strains experienced in money markets last month, Fed Chairman Jerome Powell said Tuesday.”
And then from Fed Chairman Jerome Powell