Fed’s Waller says the central bank isn’t keeping rates low to finance government debt
“Defending the Fed’s independence from the fiscal authorities in Congress, Waller rejected notions that the central bank is holding borrowing costs low to help service the debt, nor is it conducting asset purchases to finance the debt-laden federal government.”
USAGOLD note: Got it … And what is the real reason for the Fed owning almost $5 trillion in federal government paper? Because it’s such a good investment for the central bank?
Sources: St. Louis Federal Reserve, Board of Governors of the Federal Reserve System
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