Jul 05, 2022
Fed raises possibility of future mortgage-backed securities sales in FOMC minutes
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The Federal Reserve eventually could resort to selling off mortgage-backed securities on its balance sheet, according to the minutes of the central bank's last strategy session in March. During the March meeting, Fed officials reviewed the results of the central bank's previous efforts at shrinking its balance sheet between 2017 and 2019.Amid the COVID-19 crisis, the Federal Reserve purchased billions of dollars' worth of mortgage-backed securities as part of its broader efforts toward economic stimulus. The Fed has since stopped making those purchases and signaled plans to shrink its balance sheet of mortgage bonds, either through the securities maturing or prepayments. With mortgage rates increasing, the volume of refinances has shrunk considerably. In that context, some Fed officials suggested it "will be appropriate" to consider MBS sales in the future to rid the bank's balance sheet of the securities. Any decision to that effect "would be announced well in advance," the minutes noted. Read Next Read Next Car quality is slipping: These are the brands with the most and least complaints, study finds
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Trump says he will not oppose release of Mar-a-Lago search warrant documents
"Not only will I not oppose the release of documents related to the unAmerican, unwarranted, and unnecessary raid and break-in of my home in Palm Beach, Florida, Mar-a-Lago, I am going a step further by ENCOURAGING the immediate release of those documents, even though they have been drawn up by radical left Democrats and possible future political opponents, who have a strong and powerful vested interest in attacking me, much as they have done for the last 6 years," he said on Truth Social late Thursday night.
"My poll numbers are the strongest they have ever been, fundraising by the Republican Party is breaking all records, and midterm elections are fast approaching," he added in another. "This unprecedented political weaponization of law enforcement is inappropriate and highly unethical. The world is watching as our Country is being brought to a new low, not only on our border, crime, economy, energy, national security, and so much more, but also with respect to our sacred elections! Release the documents now!"
Attorney General Merrick Garland announced earlier in the day that he had personally approved the FBI’s decision to seek a search warrant. He also revealed the Justice Department requested permission from a federal court to unseal the court-approved search warrant that authorized the bureau's raid. The motion to unseal also covers the inventory of items obtained in the search.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
The filing gave Trump’s legal team the opportunity to present a “countervailing” argument against releasing the warrant, according to the New York Times, which also cited officials saying it is unlikely to release to the public any affidavits presented by the Justice Department to a judge when seeking the search warrant.
This story is breaking and will be updated.Donald Trump News Justice Department National Security Merrick Garland Mar-a-Lago