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The conservative pundit Glenn Beck spoke gravely of the American economy during his BlazeTV show on Thursday, warning that “something is very wrong” with the financial system after the Federal Reserve stepped in to support the short-term lending market.
Beck, who has a reputation for hyperbole and a history of peddling conspiracy theories, flagged the Fed’s repo market activity this week in which the central bank lent billions of dollars to major institutions to keep them liquid overnight.
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