Fed Returned In Feb.-Apr. Period Dollar Support Works, Too Well?
REGULATION
The Federal Reserve Bank of New York, in conjunction with the Treasury Department, returned from its nine month leave from the foreign exchange market to intervene on the dollar's behalf on seven consecutive days in early February. The Fed bought a total of $1.389 billion with German marks during this period, according to the Fed's latest release.
The open market intervention, carried out in conjunction with a host of other foreign central banks, appears to have been one of the Fed's most
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