Nov 9, 2010
Senate Minority Leader Mitch McConnell (R-Ky.) said he does not have “an opinion at this point” on whether Republicans should try to stop or restrict the Federal Reserve from buying $600 billion in federal government debt.
At the conservative Heritage Foundation on Thursday, CNSNews.com asked McConnell whether “Republicans will try to prevent or stop the Treasury from selling Treasury bonds to the Fed rather than putting them [up for sale] on the open market?”
McConnell said, “I haven’t got an opinion on that at this point.”
The Federal Reserve announced on Wednesday that it would buy $600 billion in Treasury bonds by the end of the second quarter of 2011 (in June), a pace of about $75 billion per month.