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Bilifuduo (98.20)

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September 13, 2012 – Comments (2)

The Federal Open Market Committee today officially announced QE3, which the Federal Reserve will undertake through the purchase of $40B in mortgage-backed securities a month until the economy improves. The Federal Reserve believes these actions "should put downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative." As noted by Federal Reserve Chairman Ben Bernanke, "We're looking for something that brings unemployment down in a sustained way."

The FOMC also pledged to keep interest rates low until mid-2015 and to keep Operation Twist functioning until the end of the year.

2 Comments – Post Your Own

#1) On September 13, 2012 at 9:25 PM, awallejr (85.54) wrote:

He did come out with both guns blazing.  Now if Congress started doing their job things could improve faster.  I had to watch Kudlow tonight because I knew he would turn ballistic.  He didn't disappoint.  He was stamping his feet, pointing his finger and having one heck of a temper tantrum.

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#2) On September 13, 2012 at 10:51 PM, whereaminow (< 20) wrote:

Gold is up 211% since Bernanke was appointed. I love this guy!

David in Liberty

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