This makes major sense and bodes well for any “additional action” that is deemed necessary…
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it is genius. i don’t think anybody realizes how lucky we are to have this clam in charge of the fed. they are all freaking about QE and its “money printing”, despite the fact that it doesn’t put ten bucks into the real economy…
but I believe the clam actually wants a happy ending, actually wants a solution, and will work towards it. This announcement may honestly be a good step.
The Clam is a very nervous man.
the clam should be nervous, he presides over troubling times
hopefully he turns more… free, and sets some interest rates for municipalities. the utlimate no downside win. states save jobs, have an easy time meeting budget, ZERO new dollars are printed, and we mitigate a potential crisis, stabilize a potentially future unstable market and NOBODY LOSES. except hugh hendry
i rather like Hugh despite his dire warnings…
i suppose it is his direct no beating around the bush nature.
the clam must stay up at night calculating and recalculating