Wednesday, December 16, 2009

Fed Minutes

No new information from the Fed today. They left rates unchanged and said they would be ending their treasury and mortgage purchases early next year.

With $4 trillion in treasury debt that needs to be sold next year and no buyers for mortgages in the market, it will be interesting to see when he announces that those purchase programs will be continuing.

He has until about March so I wouldn't worry, he has plenty of time to break the news.

Until then just watch the Fed's balance sheet grow and grow and grow.

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