European Buyers Could Provide Opportunity
With Europeans fleeing instability, now could be the right time for the Federal Reserve to sell off some of the $1.7 trillion in mortgage-back securities and Treasury bonds it purchased to offset the financial meltdown, says Harvey Rosenblum, the Dallas Fed’s head of research.
Rosenblum said the Fed didn’t go into the crisis with a plan to get out, but he called the influx of foreign investors a “wonderful opportunistic situation. … What better time to sell it off in small quantities,” he said.
Source: Reuters News, Ann Saphir (06/03/2010)
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