Correcting My Mistake

I would like to apologize for my previous post. I was wrong when I said the Fed was going to buy $300B worth of Treasuries. It's not true. Instead, it's buying $1.2T of various odds and ends, within which are $300B of Treasuries, $750B of Fannie Mae and Freddie Mac mortgages and $100B of Agency (other Federal Government) bonds.

I'm terribly sorry for having insulted the Money Fairy like that. I hope she forgives me and gives serious consideration to leaving a few million dollars on my doorstep.