Draining My Patience

March 11th, 2010

The Federal Reserve is beginning a program to drain some of the unprecedented liquidity it added to markets during the credit crisis.

The Federal Reserve Bank of New York said Monday it will begin conducting reverse repurchase agreements. That’s when the Fed sells securities from its portfolio with an agreement to buy them back later.

Funny, it’s that initial act of adding liquidity into the credit markets that created the mess we are in now. Thanks guys!

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