The Fed, in compliance with the “audit” legislation passed by congress earlier this year, has disclosed the data concerning its purchases of mortgage-backed securities, currency swaps with foreign central banks, and other lending facilities. While the Fed’s entrails are not yet laid bare for all to see by a true audit, as I’m sure most thinking people would like to see, this disclosure still contains some staggering figures. The information was released at 12 o’clock today, so we are yet to see how markets, politicians, and the average Joe Bag O’donuts will be affected.
In the meantime, I think it’s incumbent upon all YAL’ers to inform people about this discolsure and to explain to people why this affects them. The information can be found here, on the Federal Reserve’s website (links to each lending program can be found on the righthand side of the page). Any analysis from accounting, economics, or finance students/professionals would be appreciated by many, I’m sure. So please be sure to share your impressions with the rest of us.
A Foreign Central Banker Using the Fed ATMPublished in