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

To: Freedom Fighter who wrote (54331)	4/2/1999 12:23:00 PM
From: Kailash	Respond to of 132070

Wayne, thanks for putting that up. Not that I can really make much sense of the numbers, but maybe someone can tell us what is going on. They consistently make the distinction between "bought outright" and "held under repurchase agreements," as AR has been keen to point out. Under Reserve Bank Credit, total U.S. government securities in the bought-outright system account was 465,257M, up 448M for the week; only 7,863M of this was held under repurchase agreements, down 143M for the week. Currency in circulation is 515,633M or up 632M for the week. bog.frb.fed.us I'm not sure what we should be looking for. If anyone can pull meaningful numbers out of these releases that would be great. Specifically, it would be nice if we could actually document whether the Fed is tightening the spigot, as rumors now have it. Kailash