Mary Daly says Fed unlikely to pull back on bond-buying spree in 2021


USAGOLD note:  If not 2021, then when……if ever? NewsMax relays a Wall Street Journal report on Daly’s comments. We would add that the chairman of the Federal Reserve appears to be on the same page – along with most other policymakers at the Fed. Round and round we go. Where it stops, nobody knows. The chart below illustrates the massive acquisitions made by the Fed in this “bond-buying spree” the vast majority of which has been federal government debt.

bar chart showing Fed securities held outright mortgage backed securities and U.S. Treasuries

Sources:  St. Louis Federal Reserve [FRED], Board of Governors Federal Reserve System
Click to enlarge

Repost from 2-16-2021

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