The Federal Reserve is wrapping up its first regularly scheduled monetary policy meeting since the global economy was turned upside down because of the COVID-19 pandemic. Since early March, the U.S. central bank has thrown all it can at the growing economic crisis; in less than two months, it lowered interest rates to the zero bound range and introduced unlimited quantitative easing measures.
Peter Grosskopf, chief executive officer at Sprott Inc., said that he doesn't think the Federal Reserve has much ammunition left but will continue to buy government debt to support the economy.
"We do think the Feds end up being the subject of last support for the treasury market," he said. "The important subject in the market, the important theme is financial repression."