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Edward Dowd, founding partner at OceanSquare Asset Mgmt and ex-BlackRock executive, reports that the Federal Reserve has decreased its monthly Treasury bill purchases aimed at managing U.S. bank reserves.
According to Dowd, the Fed lowered its monthly buying from $40 billion to $10 billion, with the change announced yesterday.
Dowd previously described Wall Street as having a persistent transactional mindset in its business practices. He has also warned that China is in an acute phase of its real estate crisis. His recent comments continue his focus on major institutional and macroeconomic developments.