A Reuters headline quotes Richmond Fed president Lacker as saying some of the Fed’s lending, from some views, could be considered fiscal policy. I’m guessing he’s talking about the Treasury buying policy which essentially shifts money from government pocket to another. We’ll see when the story is published…
Also crossing the wires, the New York Fed denies that Geithner was involved in the decision to have AIG bury the fact that the government paid out its CDS debts in full.
