The New York Federal Reserve announces an increase in the temporary overnight repo operations from $75 billion to $120 billion a day. Another $10 billion increase is announced for term repo operations.
While the Fed Chairman ascertains that this is not ‘quantitative easing’ but organic growth measures, experts are growing increasingly apprehensive of another recession.
Sven Henrich, the founder of Northman Trader, tweeted,
I’ll go out on a limb here, but a financial system that requires over $100B of liquidity injections every day, temporary, permanent or otherwise, has major issues.
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com