Wednesday, March 18, 2009

"Out of thin air"

No, not a new Krakauer book, but the Times' very apt description of what the Fed announced today:

Fed to Buy $1 Trillion in Securities to Aid Economy
By EDMUND L. ANDREWS 4:08 PM ET
The Fed dramatically increased the amount of money it will create out of thin air to thaw frozen credit markets.

No comments:

Post a Comment