Fed Doing QE by Stealth as It Adds $185 billion to Balance Sheet.
In this report, I cover the U.S. market action after the U.S. job data from Florence, Italy on Friday, October 4th, 2019.
This evening I also look at how the Federal Reserve has actually increased its balance sheet by $185 billion in the last month even though it has not officially announced the resumption of its money printing or quantitative easing policy.
Zero Hedge has also just reported that the New York Fed has just extended the overnight and term repo operations for another month. So despite the fact that the unemployment rate has reached a 50-year low and the economy is doing supposedly so well, the Fed has resumed rate cuts and now money printing.
My conclusion is that very low rates and possibly zero rates and non-stop money printing are now a permanent requirement for the U.S. financial system and economy even in a time of economic growth! One can only imagine what the Fed will do when the economy deteriorates.
Fed's Balance Sheet: https://www.federalreserve.gov/releases/h41/
"NY Fed Announces Extension Of Overnight Repos Until Nov 4, Will Offer 8 More Term Repos": https://www.zerohedge.com/markets/ny-fed-announces-extension-overnight-repos-until-nov-4-will-offer-8-more-term-repos
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