Brian Sack Engineers Big Moves at Fed (How to suck money out of the system)
The Federal Reserve pumped $1 trillion into the financial system during a year of harried efforts to rescue the economy. Brian Sack's job is to figure out how to get the money back out. Mr. Sack, 39 years old, is an economist who runs the markets group at the Federal Reserve Bank of New York. The group runs the Fed's trading, making it the bridge between the marble corridors of the Federal Reserve in Washington and the bustling trading floors of Wall Street. In normal times, it buys and sells Treasury securities to influence the level of interest rates. During...
Original Article: Forum: News/Activism
Tags: Bank Of New York, Bridge, Corridors, Economist, Economy, Federal Reserve, Federal Reserve Bank, Federal Reserve Bank Of New York, Interest Rates, Job, Marble, Markets Group, Money Back, Money System, S Trading, Suck, Treasury Securities, Trillion, Wall Street, X27