In previous posts I have discussed the inflationary impact of the Fed's Term Asset-Backed Securities Loan Facility, a.k.a. the TALF. I was under the impression that the TALF had already been placed into operation, but I was mistaken. The program did not become operational until this week. This Federal Reserve press release from Nov. 2008 announces the TALF's creation, but the actual lending did not begin until March 3, 2009 according to this press release from the Federal Reserve Bank of New York.
I apologize for any confusion.
I apologize for any confusion.
