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“The Fed is not doing its job and should stop wasting taxpayers’ money,” said Robert Koehn, an economist at Moody’s Analytics in St Louis, Missouri.

“It needs to tak우리카지노e over the portfolio of Treasuries it buys from the Fed and stop selling too many to a few governments at a time,” he said.

In Novem우리카지노ber last year, the Fed’s monthly bond purchases accounted for about a fifth of its holdings.

The Fed buys $85bn worth of mortgage-backed securities and buys bonds backed by government-backed mortgage-backed securities from the Treasury under “quantitative easing” programmes in the Bank of England and the Bank of Japan, and then distributes them to banks which buy them on their own.

As the value of the US dollar has weakened, buying Treasuries from the Fed has fallen to its l더킹카지노owest level since 2006, after falling to record lows about three years ago, as the effect of weaker US manufacturing has hit earnings across most sectors.