Congrats! Here’s $600 Billion Dollars…November 3rd, 2010
…of money out of thin air.
“[Central Banks] will buy $600 billion in long-term Treasuries over the next eight months, the Fed said Wednesday. The Fed also announced it will reinvest an additional $250 billion to $300 billion in Treasuries with the proceeds of its earlier investments.”
Thomas Hoenig was the lone soul in the Fed branches suggesting a different approach.