By Pam Martens and Russ Martens, July 15, 2022
Yesterday afternoon, Mark Bialek, the Inspector General of the Federal Reserve, released a memorandum clearing Fed Chair Jerome Powell and former Fed Vice Chair Richard Clarida of wrongdoing in the trading scandal that has engulfed multiple officials of the Federal Reserve.
The Fed’s Inspector General Clears Jerome Powell of Wrongdoing in the Trading Scandal, One Day After Five Senators Accuse Him of Hampering the Investigation
Related:
By Pam Martens and Russ Martens: February 15, 2022 ~
If you’re wondering why inflation is running hotter than it has in 40 years and why St. Louis Fed President James Bullard has broken with protocol and is openly criticizing the Fed on television for falling behind the curve on inflation, here’s a key part of that story.
The Fed’s Federal Open Market Committee (FOMC) made its first announcement that it would begin “tapering” the amount of its purchases of Treasurys and Mortgage-Backed Securities (MBS) on November 3 of last year. On that date, according to the Fed’s own H.4.1 filing, it held $8.063 trillion in debt securities. As of last Wednesday, that figure had risen to $8.395 trillion or an increase (not decrease) of $332 billion in the span of just three months.
Since the Fed Announced It Was “Tapering” Last November, It’s Actually Added $332 Billion in Liquidity with New Debt Security Purchases
It’s like they know something else is coming, not unlike they did right before the pandemic.
Ms. Cat’s Chronicles 