In Washington, they put you on the Federal Reserve Board.

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The consigner I heard turned apoplectic as there was no reserve price put on the piece.

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After unveiling a fourth round of long-term asset purchases, or quantitative easing, and a new threshold-based guidance, the Federal Reserve has put itself on a path of unlimited purchases of Treasuries and residential mortgage-backed securities (RMBS) until the unemployment rate falls.

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Just as the Humphrey-Hawkins legislation in the 1970s put a new burden on the U.S. Federal Reserve, that of seeking full employment, so did Madame Lagarde appear to add a mission for the IMF, which was founded after World War II to help manage international capital flows to ward off balance-of-payment crises.

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In 1982, unemployment reached 10.8% as the Federal Reserve tightened monetary policy in order to put the brakes on inflation.

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During a press conference, Federal Reserve Chairman Ben Bernanke said QE3 should put downward pressure on mortgage rates, helping the housing market.

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Commodity markets, including the precious metals, were given a booster shot Monday morning when Federal Reserve Chairman Ben Bernanke ostensibly put another quantitative easing package back on the table.

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More complicated are drifts in the fractional reserve level and trends in international outflow requests, which put sustained pressure on the window and cannot be tackled at the source.

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However, word that the Chinese were increasing reserve requirements on banks again in order to fight inflation and property prices, has put a damper on the mood.

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