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<p>[QUOTE=&quot;GoldFinger1969, post: 26728327, member: 73489&quot;]<b><span style="color: #0000ff">Repos are NOT new...they&#039;ve been around for decades.&nbsp; </span></b>They are simply a tool to conduct monetary policy through the NY Fed&#039;s SOMA (System Open Market Account) by influencing the level and activity of bank reserves.&nbsp; Ditto reverse repos.</p><p><br /></p><p>If you are an investor in Mortgage REITs (MREITs) like AGNC, NLY, etc....that&#039;s what you are using to finance your balance sheet.I doubt Powell was going to help Trump though I don&#039;t think he&#039;d try and hurt him, either. <b> A Fed chairman is singularly fixated on doing the right thing.</b>&nbsp; We had a bunch of Fed Chairman in between William McChesney Martin and Paul Volcker who sucked, for lack of a better word.<img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" /></p><p><br /></p><p>It takes a majoriy of the FOMC to determine monetary policy, not just 1 or 2 people in synch with an administration:</p><p><br /></p><p><a href="https://www.federalreserve.gov/monetarypolicy/fomc.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.federalreserve.gov/monetarypolicy/fomc.htm" rel="nofollow">https://www.federalreserve.gov/monetarypolicy/fomc.htm</a></p><p><br /></p><p>Warsh is &quot;dovish&quot; on cuts, &quot;hawkish&quot; on the balance sheet.&nbsp; He&#039;ll do what he thinks is right -- whether it IS right or turns out to BE right....we&#039;ll find out. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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