The Federal Reserve just did enough to rate a “very happy” by consistent critic President Trump. That alone tells you they fired a big gun. Here are the highlights of the move: Major launch of QE5? The Fed will buy at least $700 billion of Treasuries and mortgages. They will continue to do massive amounts of repo (short-term liquidity arrangements) and let’s not forget all Treasury and Mortgage coupons will buy additional bonds and there will be no runoff of holdings. • Interest rates to zero. Party like it is 2011 ZIRP. It took the Fed just two weeks to use up their entire rate cushion that took almost five years to ... (full story)