Re: Re: Fed's actions

["Fred B. Moseley" <fmoseley@xxxxxxxxxxxxx>]

Thanks very much to Bill Burgess for further information on the Fed's
infusion of cash last week.  I have not seen anything in the papers this
week about further infusions of cash (only the 1/2 point reduction in the
fed. funds rate).  Has anyone else seen any reference to further cash
infusions this week?

Thanks,
Fred



On Sat, 15 Sep 2001, Bill Burgess wrote:

> Date: Sat, 15 Sep 2001 23:25:24 -0700
> From: Bill Burgess <burgess@xxxxxxxxxxx>
> Reply-To: pen-l@xxxxxxxxxxxxxxxxxxx
> To: pen-l@xxxxxxxxxxxxxxxxxxx
> Subject: [PEN-L:17211] Re: Fed's actions
>
> 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.
>
>