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Yellen Says Fed's Asset Purchases to Create 3 Million Private Jobs by 2012

The Federal Reserve’s two rounds of asset purchases totaling $2.3 trillion will have helped boost private payrolls by about 3 million jobs through 2012, said Fed Vice Chairman Janet Yellen.

Policy makers’ November decision to start a second round of purchases of $600 billion in Treasuries “is intended to support economic recovery from an exceptionally deep recession,” the 64-year-old central banker said in a speech today in Denver. “I believe it will be effective in fostering maximum employment and price stability.”

www.bloomberg.com/news/2011-01-08/yellen-says-fed-s-asset-pu...



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Yellen Speech May Offer `Proxy' for Planned Unwinding of Fed QE

Federal Reserve Vice Chairman Janet Yellen presented a possible timeline of about seven years before the Fed’s balance sheet is restored to normal levels, while saying the central bank’s asset purchases will end up creating 3 million jobs by 2012.

Yellen, speaking in Denver on Jan. 8, referred to a model created by Fed economists that assumes the central bank will complete its second round of large-scale Treasuries purchases within a year. The Fed’s balance sheet would stay “elevated” for two years before returning to a normal size over five years, she said, alluding to the economists’ research.

The timetable is “a reasonable proxy for what they might do,” said Allen Sinai, president and chief executive officer of Decision Economics Inc. in New York, who appeared on the same panel as Yellen.

http://www.bloomberg.com/news/2011-01-10/yellen-speech-may-o...

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whats sad is the majority of

whats sad is the majority of our countrymen believe this garbage.

ecorob's picture

BS!

...i.m calling that bs

the last thing i called bs on this site was when some "body" said spaceships were landing last october

3 million jobs? ahhahahahaha lololol that's even more farfetched than the aliens coming!

its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
9/11 Truth.

well,

someone has to wheel those wheelbarrows around. ;)

donvino

Lie! I been Yelling for 175 years. Is she my helper?

Must I pay her? May I help write her script? Seems she is not skilled in the art of Yelling nor Lying. I could help. Surely I could. Oh lordy, what a lot of work ahead of me.

So unprofessional. I have seen circus clowns entertain a thought better.

The young ought to be temperate in the use of this great art until practice and experience shall give them that confidence, elegance, and precision which alone can make the accomplishment graceful and profitable. Patience, diligence, painstaking attention to detail -- these are the requirements; these, in time, will make the student perfect; upon these, and upon these only, may he rely as the sure foundation for future eminence. Think what tedious years of study, thought, practice, experience, went to the equipment of that peerless old master who was able to impose upon the whole world the lofty and sounding maxim that "Truth is mighty and will prevail"-- the most majestic compound fracture of fact which any of woman born has yet achieved. For the history of our race, and each individual's experience, are sewn thick with evidences that a truth is not hard to kill, and that a lie well told is immortal.
- "Advice to Youth," 15 April 1882

According to the holiday spirit, allow me to digress... a subject came to me yesterday about some North Pole confusion. Let me take a moment to clear the sky...

Yes, Virginia there is a Santa Claus. Clowns are in Florida.
Submitted by Mark Twain on Sat, 01/08/2011
http://www.dailypaul.com/node/153867#comment-1626892

Virginia, be not concerned. Santa is far North of the troubles of Nations. He will not pay any attention to this nonsense about shifting the North Pole. He will keep working steady.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

?!?

Private Jobs?, Who are they trying to fool?

"Hence, naturally enough, my symbol for Hell is something like the bureaucracy of a police state or the office of a thoroughly nasty business concern." ~~C.S. Lewis
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

So The Federal Reserve uses SimCity to watch job growth. LOL

"In her assessment of the economic impact of the purchases, Yellen cited a paper by four Fed economists that relied on the central bank’s main economic forecast model, known as FRB/US."

It cost $2.3 trillion to get 3,000,000 jobs paying $380,000 each.

So the Fed gets worthless derivatives as assets and 3 million workers get 6 figure salaries.

That's pretty poor performance. And what do these high paid workers produce besides greenhouse gases.

Free includes debt-free!

Its gonna be ..a job raffle, bro!

Hey Jimmie, bring that damn helicopter over here now.
Now spill.. 'em beans..
Jobs...jobs...jobs..you want more...?!
There you go...suckers!
Shut your...

so we should weep and sweat instead of laugh about it!

its tragic that any person or group of people could aspire to plan prosperous lives for hundreds of millions of individuals, but, sadder still is the acceptance of this tragedy as a matter of unchangeable reality.

"ron paul is not running....ron paul is not running" -bloomberg 'expert' morning after the bloodbath, i mean, debate!

amazing- the whole thing is lie after lie!

it's obvious to all here, but I could not stop laughing and sweating in anticipation of the next lie err line. Its incredible, isnt it? the all-knowing, all-powerful, those who engineered th entire financial mess, from the top all the way down!!,-- they just snap their fingers and make some magic-money, and, along with that oxy-moron comes another: central planning (even on this graaaand scale) creates small-time, private business boom! its such a sorry, weak lie

"ron paul is not running....ron paul is not running" -bloomberg 'expert' morning after the bloodbath, i mean, debate!