The Federal Reserve bank pulls a fast one by canceling their POMO operation (U.S. Treasury purchases) until 11:30 am EST. Normally, when the Federal Reserve Bank initiated its POMO operation the U.S. Dollar Index will decline and the stock markets will inflate higher. However, today it appears that the Federal reserve was looking to test the markets and see how well it would hold up without their steroid injection called POMO (permanent open market operation). Well it looks as if the stock market did not hold up too well trading down by 80.00 points on the Dow Jones Industrial Average. The shenanigans continue with the Fed as they lose credibility by the minute with investors and the American public.
