Dudley Sees ‘High Bar’ to MORE Fed Purchases of European Debt

[dkf]

By Cheyenne Hopkins
March 27, 2012 11:26 AM EDT

Federal Reserve Bank of New York President William Dudley said that the central bank holds a very small amount of European sovereign debt and that he sees a “high bar” to additional purchases.

The standard for buying more European sovereign debt “is extraordinarily high for the U.S., for the Federal Reserve, to actually go out and buy foreign sovereign debt for its own portfolio, apart from the very small foreign exchange holdings that we have,” Dudley said today to a House Financial Services subcommittee hearing.


http://mobile.bloomberg.com/news/2012-03-27/dudley-sees-high-bar-to-more-fed-purchases-of-european-debt.html

[Po_d Mainiac]

1. No doubt this will return untold hundreds of billions

which will save us from the next round of debt ceiling debates.