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But we saved everything 🙂.
Daniela Gabor highlights that the Federal Reserve has consistently bought $40 billion worth of U.S. Treasuries every month since last December, yet there appears to be little concern about liquidity impacts from these purchases.
She contrasts this with a recent, much smaller intervention that has attracted significant attention.
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Gabor has previously described how repo lines provide lender of last resort dollars to U.S. allies that do not have direct swap line access, in her article on second tier allies. She has also highlighted key repo collateral incidents from 2008 to 2022, noting ongoing market tensions in a separate review of repo market episodes. Her research often focuses on the mechanics and risks of central bank interventions.