The POMO effect, charted Posted by Izabella Kaminska on Oct 15 11:18.
Permanent open market operations (POMO) by the Fed restarted on August 17, 2010.
Those who are reluctant to admit that these operations may have resulted in an almost instant asset boost via dollar devaluation worldwide, should probably look at the following charts, in which we’ve taken the liberty of indicating the start of POMO ops:
First, the effect on the dollar versus the Australian dollar:
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