When “Reserve Management” is Not Enough—-WhyThe Crybabies Of Wall Street Are Clamoring For The Real Thing (QE)

So these Crybabies were hoping for real QE with long-term notes and bonds. And all they got was a plan focused on acquiring T-bills, on top of the new plan from a few months ago to replace longer-term Treasury securities and all MBS on the Fed’s balance sheet with a mix that includes T-bills.