9 votes

Bernanke Dissatisfied With Growth Will Press on With Pace of QE

Bloomberg: Federal Reserve Chairman Ben S. Bernanke signaled he isn’t close to easing up on $85 billion in monthly bond purchases to spur a stalled economy and bring down 7.8 percent unemployment.

The Federal Open Market Committee said in a statement yesterday that growth, while slowed by “transitory factors,” faces “downside risks” even after strains in global financial markets have eased. The expansion will pick up and unemployment will fall in response to “appropriate policy accommodation,” Fed officials said in a statement after a two-day meeting.

“Everything in this statement suggests that they will continue to buy $85 billion per month and that we still have a ways to go before they’re satisfied that the labor market is where they want it to be,” said Ward McCarthy, chief financial economist at Jefferies & Co. in New York and a former Richmond Fed economist.


Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

100% of the deficit is going

100% of the deficit is going to be financed by the Fed by 2014. This is ridiculous.

Only someone incapable of

Only someone incapable of critical thinking would buy the governments assertion of 7.8% unemployment. The only jobs Obama and his administration seem to create are government jobs.

Bob Marshall

Same old crap.

Bernanke can sit there and try to justify imploding the country all he wants but he's still digging the hole deeper. I can't hate the guy because there is no way he is evil, he's incredibly stupid. The argument of "we have to keep buying till unemployment gets where we want it and the economy is safe again" is circular. He'll never get the economy and unemployment healthy because HE'S CAUSING IT TO GET WORSE!

If ignorance is bliss, Washington DC must be heaven.

He's reading a reality TV script

He knows he is reading the script written by the FOMC and he gets paid very well.

He's pretending to be something he's not. That leaves us to be the stupid ones.

Free includes debt-free!

Thanks Bobby

Sharing on Twitter.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

The swindle isn't over, yet.

"The Fed can keep turning the screws and torturing the Economy until it gives up every last red cent. Then the government will default and we'll send in the repo teams."

Free includes debt-free!

All evidence from 2008 until present

shows that Bernanke's policies are a massive failure. How can he be so stupid? I am starting to think they're doing it on purpose. They can get out of debt by printing more money and paying off debtors with worthless dollars. Then create a new currency.

Surviving the killing fields of Minnesota

Todays brainwashing: GMO's are safe

The 100 year swindle.

To admit that Gold an Silver are market chosen Money lays bare the swindle.

The Fed is always blowing bubbles: 1921, 1929, 1971, 1999.

The ultimate in insider trading. They Profit when the bubble is blown and buy assets when the bubble pops. Repeat.

The Bank of England began the age of the modern banking swindle in the 1720 South Seas bubble.

Free includes debt-free!