NY Fed’s Sack lays out QE options

The unfortunately named Sack (Fed’s Sack sounds faintly pornographic, don’t it?) of the NY Fed is speaking on how providing the market with information on the ways and means the Fed could use to buy assets would be desirable. Further bond buying should ease conditions further, he says evidence suggest. Large steps would cause big rate moves around there announcements, he says, while smaller steps would be more like a Fed funds adjustment.

Constant talk of QE by the Fed should help limit dips for EUR/USD near-term. EUR/USD is firming now, back to 1.3700 after a dip into the high 1.3670s.