Bloomberg: Record Assets Push Fed Into ‘Uncharted Territory’
Bloomberg reported that Federal Reserve chairman Ben S. Bernanke’s unprecedented bond buying pushed the Fed’s balance sheet to a record $3 trillion as he shows no sign of softening his effort to bring down 7.8% unemployment.
The article noted that the Fed is purchasing $85 billion of securities every month, using the full force of its balance sheet to stoke the economic recovery. The central bank began $40 billion in monthly purchases of mortgage-backed securities in September and added $45 billion in Treasury securities to that pace this month.
To read the full Bloomberg article, click here.