The Fed Finally Admits It

by Brian Maher
Daily Reckoning

We have it on highest authority — the Federal Reserve itself — that it may never permit free markets again.

Federal Reserve Vice Chair for Supervision Randal Quarles:

The Treasury market is now so large that the U.S. central bank may have to continue to be involved to keep it functioning properly.

Next we come to the president of the Federal Reserve’s San Francisco outpost — Mary Daly by name:

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