2 votes

FOMC 2013: Keep those printing presses well greased boys!

http://www.federalreserve.gov/newsevents/press/monetary/2013...

"To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee will continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. Taken together, these actions should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative."

Sing along with me:
(Federal Reserve Theme Song, sung to the tune of Rawhide theme. Written by Benjamin Bernanke)

Rolling, rolling, rolling
Rolling, rolling, rolling
Rolling, rolling, rolling
Rolling, rolling, rolling

Purchase!

Roiling, rolling, rolling
Though the 'banks' are swollen
Keep them printers rolling
Purchase!