So the Cleveland Fed is no stranger to “really bad drawings, real simple explanations.”
But this one takes the cake.
All about the Federal Reserve:
Of particular interest – the bit about MBS-post the Fed’s massive asset-purchasing programme at six minutes in. Quote: “That brought down mortgage rates for reasons we don’t have time to explain.”
Next up on Cleveland Fed Television:
(H/T Zero Hedge)
Related link:
The latest Fed-web offering - FT Alphaville