It was an exceptional challenge to shoot at the CME yesterday… For some reason, they have lowered the light level in the exchange to the point that it looked like a night club when I walked in. The exposure was 1/100 2.8 ISO 5000, where as three months ago it was 1/200 2.8 ISO 5000, or in laymen’s terms, its now half as bright as it used to be.
By Pedro da Costa and Alister Bull, Reuters
(Reuters) – The Federal Reserve launched another aggressive stimulus program on Thursday, saying it will buy $40 billion of mortgage-backed debt per month until the outlook for jobs improves substantially as long as inflation remains contained.
In an unprecedented step, the Fed’s policymaking panel escalated its effort to drive U.S. unemployment lower by tying its unconventional bond buying directly to economic conditions, a move that immediately sparked controversy among its critics.
“If the outlook for the labor market does not improve substantially, the committee will continue its purchase of agency mortgage-backed securities, undertake additional asset purchases, and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability,” the Fed said in a statement… Read More