Isn't the prevailing cynicism of the long-held view that outgoing chairmen tend to goose the markets up till the day they leave? Volcker. Greenspan. Bernanke.
Anybody else notice that the Fed is not letting securities roll off the balance sheet. When you parse the last statement, it's clear that they meant to renew all security holding of a given size. Since almost all securities exceed the stipulated size, virtually all of them will be rolled over. Even if they double the amount to $12 B and $8B, respectively for UST and MBS, there is very little rolling off for another five years.
They sure don't look like they are slowing down much
https://www.newyorkf...lastTwenty.html
