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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (88355)	1/11/2001 11:34:35 PM
From: Don Lloyd	Read Replies (1) \| Respond to of 132070

MB - ...On my shorter term stuff, I am mostly short the 15 and long the 10. To nitpick, there don't appear to be any shorter term 10's. -g- Regards, Don

To: Knighty Tin who wrote (88355)	1/12/2001 8:05:30 AM
From: Freedom Fighter	Read Replies (2) \| Respond to of 132070

Mike, I glance at the Federal Reserve's balance sheet from time to time and especially when there's a rate change. There's something I still don't quite understand. There usually doesn't seem to be much of a change to the Fed's assets when rates are cut (for example). What is the Fed actually doing? Is it simply saying "OK banks we have a new lower interest rate" and then simply responding to the new level of demand for reserves. I expected to see more of a correlation between interest rate changes and the Fed's actual action of purchasing/selling treasuries etc.. I think the Fed's balance sheet actually shrunk a little when they cuts rates last week. (I'll double check) Wayne