by Boo_Randy
Once again the Fed has blown the biggest housing bubble in history, pricing millions of the working poor out of affordable places to live, yet these gold collar criminals are still buying billions of mortgage backed securities every month from their bankster cohorts.
finance.yahoo.com/news/mester-mbs-sales-could-mean-190336563.html
AMELIA ISLAND, Fla. (Reuters) – If the Federal Reserve sells any of its holdings of mortgage backed securities it may have to do so at a loss, Cleveland Federal Reserve bank President Loretta Mester said Tuesday, a potentially difficult problem for the central bank, at least politically, since it remits its annual profits to the U.S. Treasury.
“A potential drawback of sales is that, depending on the interest rate path, they could result in realized market-to-market losses,” Mester said in comments to an Atlanta Fed conference. “Such losses would not entail any operational challenges for the Fed in setting monetary policy. However, they would pose communication challenges that would need to be appropriately addressed.”
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