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Fed considers issuing it's own debt

Gotta love this one:

http://www.campaignforliberty. com/wire.php?view=891

Fed considers issuing its own debt: WSJ

By Simon Kennedy Last update: 6:16 a.m. EST Dec. 10, 2008



LONDON (MarketWatch) -- The Federal Reserve is mulling issuing its own debt for the first time in a move that would give it more flexibility to stabilize financial markets, The Wall Street Journal reported Wednesday, citing a person familiar with the matter. Government debt issuance is largely the job of the Treasury Department, but Fed officials are looking for new tools as the crisis drags on and have approached Congress about the idea, the Journal reported. It added the concept could include issuing bills or some other form of debt, but it isn't known whether the preliminary discussions will result in a formal proposal or Fed action. The Journal said one roadblock is that the Federal Reserve Act doesn't explicitly permit the Fed to issue notes beyond currency.

December 11, 2008 in Current Affairs | Permalink

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