Fed Reserve to announce receivers of $3.3B financial aid

Market Leader informed

On the order of the US Congress the Fed reserve is to announce the receivers of financial aid to the sum of $3.3B. The legislators urged the Fed Res publish the info after it adopted the financial-aid plan, which reduced the size of the 700B governmental program of supporting risky assets.

So, the info should be published at the Fed Res internet site at noon as provided by the Dodd-Frank Act. The report mentions 6 programs of lending through implementing currency swaps with other central banks and trough obtaining mortgage bonds and investing in Bear Stearns and American International Group.

The data say the Fed Res supports Bank of America and General Electric as previously the collapse of Lehman Brothers became the reason for a considerable increase in spending connected with lending to individuals.

Such actions are expected to intensify the criticism against the US central bank’s actions, especially if to take into account the reaction to the decision made by it on Nov 3^rd 2010 about pouring $600B into the national economy. The Republicans opposed the decision saying such measures might end up with inflation growth and unjustified increase in the value of numerous assets.

Howard Friend, chief economist for MigBank, says that all these attacks are aimed at making political capital. Yet the political criticism is not expressed through deeds while any decision made by the Federal Reserve is always discussed very actively.

Experts of the Department of studying Masterforex-V trading system made their forecast on the further movement of the USD index in the article called “Europe isn’t satisfied with the US monetary policy. What will be the USD currency rate?”

 

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