In January 2009 Bernanke defined QE as any action that expands reserves. This is exactly what the Fed announced yesterday, even though the current Fed goes to great pains to say it is "not QE.". This matters for markets. Explained herehttps://www.linkedin.com/posts/james-bianco-117619152_the-crisis-and-the-policy-response-activity-6588784816534224896-9n6p …
Replying to @biancoresearch
The Fed has been nothing if not consistent in its inconsistency.pic.twitter.com/DMnAS5eXd0
8:45 PM - 12 Oct 2019
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