FAST FIVE: Schiff Pummels Powell's QE-Denial Farce: "The Fed Are A Bunch Of Liars"

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And Jerome Powell went out of his way today in his statement and in the Q&A that followed to emphatically say the Fed is not doing QE –  Except in every sense its QE because it's exactly QE.

In fact, based on the last three weeks, the Fed is now expanding its balance sheet even faster than it was when it had a specific program.

Because the success of quantitative easing was predicated on the fact that it was temporary.

It was predicated on the Fed being able to reverse course.” It's clear now that temporary was not the reality.

Well, the Fed are a bunch of liars.” Tyler Durden Wed, 10/09/2019 – 14:50 Tags Business Finance.

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