But in terms of the end goal, there's a big difference between wanting to rescue a sliding economy and looking to keep interest rates in check and liquidity flowing through the banking system.
"This is night and day with their previous QE attempt," observed Peter Boockvar, chief investment officer at Bleakley Advisory Group, who called the process "just modern day open market operations and nothing more." Boockvar noted that prior to the financial crisis, the Fed's balance sheet generally expanded about in step with GDP growth, so this process shouldn't be much different.
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