Deep inside the Federal Reserve Bank of New York, the $600 billion man is fast at work.
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.
