Fed Hints at Third Round of Quantitative EasingSubmitted by legalizeliberty on Fri, 08/31/2012 - 16:51
During his Jackson Hole speech on Thursday, Fed boss Ben Bernanke said the privately owned bankster cartel “will provide additional policy accommodation as needed” and may engage in more so-called quantitative easing.
“As the crisis crested, and with the federal funds rate at its effective lower bound, the FOMC [Federal Open Market Committee] turned to non-traditional policy approaches to support the recovery,” Bernanke said.
“The costs of non-traditional policies, when considered carefully, appear manageable, implying that we should not rule out the further use of such policies if economic conditions warrant.”
The Fed has thus far squandered more than $2 trillion in quantitative easing and despite this the economy has slipped further into depression.