Fed Minutes To Reveal The Sheer Chaos As Fed’s Entire Worldview Imploded

Read more on this subject: Federal Reserve
News Story Source: https://www.zerohedge.com by Tyler Durden
; eased regulatory pressure on banks to free up capital, and announced dollar swap lines with other central banks), reaching decisions that may shape the global economy for decades to come in the space of a few frantic weeks. This was followed with a barrage of other measures which included the boosting of QE and MBS purchases on Mar 23, expanded repo for foreign central banks on Mar 31, and also announced six further facilities, including the commercial paper facility, de facto backstopping the entire market except equities and junk bonds.  

The timing of the Fed's announcement and the scope of the measures was a surprise: as NewsSquawk writes, it was the Fed's "whatever it takes" commitment to ensure the smooth functioning of markets amid the virus fallout. Since then, it has flooded the market with liquidity, resulting in the premium for dollars easing.

Since then, its balance sheet has ballooned to by USD 1.5trln to a new record high
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