Re: Fed's actions

[Bill Burgess <burgess@xxxxxxxxxxx>]

I don't think this is all for buying bonds, but Saturday's Globe and Mail
reports a $US 82.5 billion "infusion of short term cash" into the US
financial system by the Fed on Friday, for a total of $188 billion since
Wednesday. An economist with J.P. Morgan Canada is quoted as estimating the
addition of funds this week by the Fed was 20 times the normal amount.

Bill Burgess

At 12:51 AM 16/09/01 -0400, you wrote:

> A question for Doug Henwood (Hi Doug) and others:
>
> The New York Times reported on Friday that the Fed purchased government
> bonds of $70 billion on Thursday (after buying $38 billion on Wednesday),
> which it called "one of the biggest such operation in memory".  It also
> said that on a normal day the purchase would be "several billion dollars".
>
> Does anybody know:
>
> 1. Other examples of such high purchases, and what the numbers were?
>
> 2. How much the Fed purchased on Friday, which was not reported in
> Saturday's paper (at least I couldn't find it).
>
>
> Thanks in advance,
> Fred Moseley
>
>
> P.S.  The Monday opening of Wall St. should be very interesting.