Research US
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US: Monetary Policy and Liquidity Effects
Fri, Aug 8 2008, 08:08 GMT
by Peter Possing Andersen
- • From boardroom decisions to market transactions Are you aware of how the Federal Reserve implements target rate decisions in the open market? We present a primer on the traditional US monetary policy instruments and explain their practical implementations.
- • TAF, TOP, TSLF, PCF, PDCF - the labyrinth of acronyms is expanding and it's easy to get lost. We introduce an ABC-guide to the new Fed credit facilities and explain how they are aimed at easing strains in the financial markets in the light of the liquidity crisis. In addition, we discuss how well the Fed has succeeded in carrying out its intended objectives.
- • Looking forward, we analyse how these new credit facilities may influence the ability of the Fed to conduct monetary policy. The added risky components have dramatically changed the Fed balance sheet and could potentially restrain the Fed's ability to influence the economy in the future.
Published on Fri, Aug 8 2008, 08:14 GMT
Archive
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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