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Bank reserves in enormous quantities are toxic, but like nuclear waste, they pose no danger as long as they're tucked away, in the bank reserves' case, at the Fed. When banks begin utilizing excess reserves in the form of lending, the Fed must then remove the toxins, or tighten the reins.
See why Deutsche Bank and others say the latest Producer Price Index figure may be an early sign of an upturn.
The little-changed policy statement gives the impression that the Fed feels justified in maintaining its asset-purchase program.
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