Authors claim Fed is breaking law by

https://wallstreetonparade.com/2020/04/feds-powell-tells-reporters-fed-has-only-lending-powers-so-how-does-it-own-5-5-trillion-of-securities/

 

“as of last Wednesday, ]The Fed] owns the following: $3.9 trillion in Treasury securities and $1.6 trillion in Mortgage-Backed Securities which it has purchased outright with money it creates out of thin air.” And it plans to buy corporate bonds, including junk, they say.

 

Charlie Cooper