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Bilifuduo (98.20)

QE3 and LIBOR

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July 11, 2012 – Comments (0)

The Federal Reserve Bank of New York recently stated that it was aware of potential issues with LIBOR rigging by Barclays around 2007: “In the context of our market monitoring following the onset of the financial crisis in late 2007, involving thousands of calls and e-mails with market participants over a period of many months, we received occasional anecdotal reports from Barclays of problems with Libor."

In other Federal Reserve news, QE3 continues to be a hotly discussed topic as the President of the St. Louis Federal Reserve, James Bullard, asserted today that there is no current need for QE3 and pointed out that "the Fed is running out of a balance sheet." This comes a day after San Francisco Fed President Williams stated that the Federal Reserve is failing in its two mandates of price stability and maximum employment and argued for "sufficient monetary accommodation."

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