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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (40606)	11/4/2005 2:06:14 PM
From: russwinter	Respond to of 116555

The Fed should be focusing on keeping it's SOMA account ny.frb.org growing under 5% a year, period. In the last nine weeks it's been 8% annualized on SOMA, 8-31: 730.380 billion 11-2: 740.614 plus another coupon pass today: ny.frb.org still too high (to make up for the missing FCBs no doubt). If that means interest rates hold here, great, if they go down or up, whatever, but they should just let the market determine the rate based on reasonable noninflationary monetary growth. What would Jim Jubak have them do in this climate, Message 21853928 grow their securities holdings (SOMA) even more? 10%, 12%?