Why yes, yes they did Please Stop.
The New York Federal Reserve Bank confirmed that it intervened in currency markets on Friday for the first time in more than a decade.
The disclosure came a day after the Group of Seven major industrialized nations pledged in a statement to join in a coordinated effort to weaken the Japanese yen. The yen has surged in the last week to post-war record levels following the Japanese earthquake and tsunami.
I may not be a financial wizard however I as an American do not want the Fed doing anything to subvert the free will of market forces. It is kind of black and white to a financially ignorant person such as myself. I am sure they think they know what they are doing and yet every time they insert themselves in the market or printing worthless money We The People are the one’s who pay!