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The 4.5 trillion dollar balance sheet. Continued QE
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OldMcdonald
Posted 10/31/2014 12:09 (#4153759 - in reply to #4153746)
Subject: RE: Govt. Bonds are also Assets


Napanee, Ontario
"It is still a market, IMHO, even if a market where supply is controlled."

Ok.... and by extension, where the interest rate is CONTROLLED.. not discovered. Right?

That's our point.

True discovery requires participants to act in their own interest for their own gain. The FED does not act in it's own interest (RE ROI), and hence, is not a true market participant. Thus, any market action undertaken by the FED distorts true price discovery.
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