Fed Avoids Intervention in Q3 Despite Market Turbulence

REGULATORS

NEW YORK--Despite the considerable volatility experienced during the third quarter, the US Federal Reserve did not intervene in the foreign exchange markets for the period from July to September, according to the Fed's latest quarterly intervention report.

Federal Reserve Bank of New York executive vice president Peter Fisher said that although the quarter started fairly quietly, by the end, there had been "quite a sea change in investor sentiment as turmoil in financial markets escalated".