FYI: The Federal Open Market Committee had an unscheduled meeting on October 4. That happens occasionally and they often don’t reveal it occurred until the next regular meeting. That would mean Oct. 30, in this case.
But for some reason (and you can bet they had a reason) they decided to announce this one on Oct. 11.
In between, Fed Chair Jerome Powell said in an Oct. 8 speech that the Fed would soon start growing its balance sheet again.
He characterized the move not as QE, but as a more permanent operation to make sure the Fed has enough reserves to deal with market volatility.
Why Do We Need Nuclear Weapons to Swat Flies?
To be fair, let’s read Powell’s own words, with my emphasis in bold.
Regards,
Ted
https://www.forbes.com/sites/johnmauldin/2019/11/01/the-feds-policy-is-like-swatting-flies-with-nuclear-weapons/#15b7bb994cb0
