QE 4 "Not A QE" Begins: Fed Start Buying $60BN In Bills Per Month Starting Next Week -Zero Hedge

Written by Swiss America

"Just one day after we laid out what Goldman's revised forecast for the Fed's 'NOT A QE' will look like, which for those who missed it predicted that the Fed would announce 'monthly purchases of about $60BN for four months, split across Treasury bills and short maturity coupon Treasuries, in order to replenish the roughly $200bn reserve shortfall and support the pace of growth in non-reserve liabilities', the Fed has done just that and moments ago the US central bank announced it would start purchasing $60BN in Bills per month starting October 15....


But wait there's more, because just as today's surprising spike in repo use suggested, mere 'NOT A QE' may not cut it, and just in case, in order to provide an 'ample supply of reserves', the Fed will continue with $75BN in overnight repos and $35 billion in term repos twice per week, 'at least through January of next year.'....So with a combined firepower between POMO and Repo in the $100s of billions per month, someone will still have the gall not to call this QE 4 'NOT A QE'?"