Meet The Fed's QE2 Traders

Author:
Updated:
Original:

Around the office they're known as "Trader One," "Trader Two," and "Trader Three," but you can call them Tiffany, Blake, and Uncle Jim.

In a spare, government-issue office in Lower Manhattan, behind a bank of cubicles and a scruffy copy machine, Josh Frost and a band of market specialists are making the Fed’s ultimate Wall Street trade. They are buying hundreds of billions of dollars of United States Treasury securities on the open market in a controversial attempt to keep interest rates low and, in the process, revive the economy....The real work is done by three traders who are referred to during the operation as trader one, trader two and trader three. They sit at a long table against the wall, tapping at seven screens. On one recent morning, trader one was Tiffany Wilding, 26. While she reviewed the stream of offers and then the prices finally accepted by the algorithm, trader two, Blake Gwinn, 29, double-checked her decisions and trader three, James White, 29, made a duplicate of everything in case the computers crashed.

[NYT]

Related

Bond Traders Have No Idea What The Fed Is Talking About

Are they taking crazy pills or is Janet Yellen?

Decision Made, Fed To Hold Meaningless Meeting

There's little drama about what the Federal Reserve will say on Wednesday: It's going to keep buying bonds in its effort to stimulate the economy. But what will the central bank be saying by what it doesn't say?

Ben Bernanke Doesn't Have Time For Rand Paul's Kid's Table Musings On The Fed

The former chairman of the Federal Reserve would not object to the Senator from Kentucky sitting down and shutting up.

TrumpDip

New Fed Chair Resists Yelling "Welcome To The Suck" During First Official Remarks

Big Jay Powell might want to save himself some time and just watch what Erdogan is doing.