Boston Fed’s Rosengren Calls for ‘Aggressive & Open-Ended’ Fed Bond Buying

August 7, 2012 By 2 Comments

Wondering the impetus for this morning’s pop in gold and silver?
WSJ’s Fed mouthpiece Jon Hilsenrath (who induces algo buying frenzies almost daily) has released a batch of verbal MOPE diarrhea from the Boston Fed’s Eric Rosengren, who called for the Fed to launch an ‘aggressive, open-ended bond buying program‘.

Aggressive (much larger than QE1 or QE2), and open-ended (potentially unlimited, with no announced end).
Sure sounds like QE to INFINITY….AND BEYOND!!!! to us.

Don’t expect the Fed to officially announce unlimited QE however as long as they can continue verbally goosing the market with MOPE from the likes of Hilsenrath and Rosengren.

Eric Rosengren, president of the Federal Reserve Bank of Boston, called on the Fed to launch an aggressive, open-ended bond buying program that the central bank would continue until economic growth picks up and unemployment starts falling again.

His call came in an interview with The Wall Street Journal, the first since the central bank signaled last week that it was leaning strongly toward taking new measures to support economic growth.

Mr. Rosengren isn’t currently among the regional Fed bank presidents with a vote on monetary policy. Although all 12 presidents participate in Fed deliberations, only five join the seven …
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Comments

  1. Avatar of AGXIIK AGXIIK says:
    August 7, 2012 at 12:10 PM

    The one item that is not getting much notice is that the Fed just did a repo of $210,000,000.  This was the first repo since late 2008 and may indicate that a bank needed cash fast. The accouncement was phrased that it was a test of the system to make sure it was up and operational.  This may mean something and I would speculate that the Fed sees much of the same, just as they did after Lehman went down and the world’s financial system went into lock down.

  2. Avatar of Ed_B Ed_B says:
    August 7, 2012 at 8:20 PM

    $210 Mil?  Bah, peanuts!  When they want to talk REAL money the word is TRILLIONS.  :-(

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