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FED MINUTES: MORE FED MEMBERS FAVOR EASING IF LOW GROWTH CONTINUES (QE-3)
TBI ^ | 8-22-2012 | Eric Platt

Posted on 08/22/2012 1:54:30 PM PDT by blam

FED MINUTES: MORE FED MEMBERS FAVOR EASING IF LOW GROWTH CONTINUES

Eric Platt
Aug. 22, 2012, 2:00 PM

UPDATE:

More Federal Open Markets Committee members say they favor additional quantitative easing if the economy cannot sustain growth, according to newly released minutes of the Fed's August meeting.

Here's the most important part of the release:

"A number of them indicated that additional accommodation could help foster a more rapid improvement in labor market conditions in an environment in which price pressures were likely to be subdued. Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery."

Data reviewed by the Federal Reserve, which did not include the unexpectedly strong July non-farm payrolls report, continued to show anemic growth and poor labor conditions in the U.S.

Weakness in Europe and developing regions continued to weigh on U.S. output, with Fed members attributing difficulty to slowing markets overseas.

However, the looming fiscal cliff in Congress also impacted growth in the U.S., slowing gains until perhaps as late as 2014.

"With the restraint from fiscal policy assumed to increase next year, the staff projected that increases in real GDP would not significantly exceed the growth rate of potential output in 2013," the minutes show.

Nonetheless, one member sitting on the Federal Open Markets Committee said U.S. growth was running near potential and that action from the country's central bank would do little.

Markets in the U.S. trimmed losses after the release of the minutes, with the Dow now off 50 points.

Economists have been split over the timing the committee would likely follow if deciding to increase stimulus measures, as the election

(snip)

----------------------

The Full Release:

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: bernanke; economy; fomc; qe

1 posted on 08/22/2012 1:54:42 PM PDT by blam
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To: blam
This is the guy a President Romney should make Fed chairman
2 posted on 08/22/2012 1:57:14 PM PDT by Perdogg (Mutts for Mitt all agree - Better in the crate than on the plate)
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To: blam

What a waste of time and money. There is plenty of money sloshing around the country. The problem is businesses don’t want to spend it given the fiscal and regulatory cliff Obama is determined to drive us off.


3 posted on 08/22/2012 2:03:08 PM PDT by colorado tanker
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To: blam

Insanity: Doing the same thing again and again and expecting different results. Obviously the Fed hasn’t discovered this yet or they are giving it their all hoping the Food Stamp President gets re-elected and most importantly, they get re-appointed! Bernanke and the rest of the corrupt elite have no chance to continue in power if anyone other than the Food Stamp President is elected.


4 posted on 08/22/2012 2:14:34 PM PDT by RetiredTexasVet (Skittle pooping unicorns are more common than progressives with honor & integrity.)
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To: colorado tanker
"What a waste of time and money. There is plenty of money sloshing around the country. The problem is businesses don’t want to spend it given the fiscal and regulatory cliff Obama is determined to drive us off."

And it's not just Obama. We need to fix the structural economic issues that brought us to the crisis in 2008. We need to raise tariffs back to their historical norms. But Glass-Steagall back into effect. Reduce the illegal immigrants which have inflated the labor supply. etc.

5 posted on 08/22/2012 2:15:55 PM PDT by DannyTN
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To: blam

more “easing?”

Interest rates are nearly at zero already.

How about crediting my bank account $1,000,000? I will use that on stimulus.


6 posted on 08/22/2012 2:17:25 PM PDT by PGR88
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To: DannyTN

There is a slew of gawdawful regulations his agencies have ready to go that have been postponed until after the election because they are really going to hit businesses hard.


7 posted on 08/22/2012 2:22:16 PM PDT by colorado tanker
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To: blam

So the plan is to put the printing machines into overdrive. Shesh.


8 posted on 08/22/2012 2:28:37 PM PDT by Parley Baer
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To: PGR88
How about crediting my bank account $1,000,000? I will use that on stimulus.

Is your last name "Bank"? No? Well no free money for you!

9 posted on 08/22/2012 2:36:37 PM PDT by KarlInOhio (Recycled Olympic tagline Shut up, Bob Costas. Shut up! Shut up! Shut up! Shut up! Shut up! Shut up!)
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To: blam

“Data reviewed by the Federal Reserve, which did not include the unexpectedly strong July non-farm payrolls report, continued to show anemic growth and poor labor conditions in the U.S.”

Now, why didn’t they review that fine piece of data? Did they pretend they didn’t read or hear the news stories about it?


10 posted on 08/22/2012 2:44:10 PM PDT by John W (Viva Cristo Rey!)
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To: blam

The experiment has failed. From this point forward, weakening the Dollar by printing worthless paper should be considered TREASON!


11 posted on 08/22/2012 2:52:27 PM PDT by WellyP (question!)
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To: blam

Good find of material that can be posted. Thanks.

Folks on fixed incomes might consider saving, becoming more independent with necessities and getting ready for those “haircuts.” Bond investments will eventually be cut, and it’s possible that most others will, too (even government pensioners).

Some of those not on fixed incomes should probably try to learn about and practice doing depression-proof jobs (providing necessities and technical/repair help with necessities like transportation, home utilities, building tech., home security equipment, etc.) besides becoming more independent yourselves. Regard frugality as a science that can always be improved on. Learn all that you can about small agricultural projects. And stay out of debt.


12 posted on 08/22/2012 3:12:48 PM PDT by familyop (Duncan Hunter or no-vote.)
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To: KarlInOhio

ok, i’ll ask: who does the newly created money go to?


13 posted on 08/22/2012 3:49:33 PM PDT by SteveH (First they ignore you. Then they laugh at you. Then they fight you. Then you win.)
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To: blam; TigerLikesRooster; Whenifhow; Cincinatus' Wife; familyop; 2ndreconmarine; M. Espinola
You heard it here first . . .

Uncle Sam Needs YOU for a Bailout: 6 Reasons Another Big Banking Crisis Is Coming Our Way !

14 posted on 08/22/2012 4:20:00 PM PDT by ex-Texan (The Time to "Wake Up" is Over !)
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To: blam; TigerLikesRooster; Whenifhow; Cincinatus' Wife; familyop; 2ndreconmarine; M. Espinola
Just another reason to label me a "conspiracy-monger" . . . Because Wa Post reported it first . . .

Recession imminent if ‘fiscal cliff’ of tax hikes, budget cuts not averted, CBO says

LOL !

15 posted on 08/22/2012 7:15:09 PM PDT by ex-Texan (The Time to "Wake Up" is Over !)
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To: ex-Texan
You are labelled a conspiracy-monger for posting crap like John Moore Nibiru garbage. Quit pretending otherwise. Your posts on the fed, the banking system and the economic crisis are not pulled unless they are from sources such as Infowars.

You do your credibility no service by whining about the moderators doing the vetting of your sources that you refuse to do yourself.

16 posted on 08/23/2012 6:16:50 AM PDT by Admin Moderator
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To: Admin Moderator

Personal attacks and name calling are supposed to be barred by FR rules.


17 posted on 08/23/2012 7:22:37 AM PDT by ex-Texan (The Time to "Wake Up" is Over !)
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To: ex-Texan

The truth is not a personal attack. You post all kinds of discredited junk such as FEMA camp idiocy that was debunked years ago.


18 posted on 08/23/2012 7:35:57 AM PDT by Admin Moderator
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To: Admin Moderator
"Truth is not a personal attack" . . .

NDAA Secret Provisions

Secret provisions include the torture of Americans suspected of terrorist activity — From CSPAN:

http://www.youtube.com/watch?v=Z0wpAcovRFk

Bing search of secret provisions of NDAA:

http://www.bing.com/search?FORM=BABTDF&PC=BBLN&q=ndaa+secret+provisions

NDAA Activate Fema Camps (Prison Camps) Nationwide

http://www.bing.com/search?q=ndaa+secret+provisions+activate+fema+camps+nationwide&qs=n&form=QBRE&pq=ndaa+secret+provisions+activate+fema+camps+nationwide&sc=0-0&sp=-1&sk=

This is over 70,000 News Reports about FEMA camps you say do not exist and the entire matter has been debunked

Being intentionally ignorant ___ ?

19 posted on 08/24/2012 11:12:28 AM PDT by ex-Texan (The Time to "Wake Up" is Over !)
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To: ex-Texan
70,000 reports in the conspiracy press - usually circular citations of each other's theories and contrived nonsense. Popular Mechanics debunked several of those.

The arrogant ones are those who spew this crap without bothering to take a skeptical look at the sources.

20 posted on 08/25/2012 8:25:29 AM PDT by Admin Moderator
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To: ex-Texan

http://www.popularmechanics.com/technology/military/news/4312850


21 posted on 08/25/2012 8:28:05 AM PDT by Admin Moderator
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To: blam

22 posted on 08/25/2012 8:32:16 AM PDT by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: Admin Moderator
"You post all kinds of discredited junk such as FEMA camp idiocy that was debunked years ago."

But, But, But, Alex Jones sez its true.... Besides I know it has to be true... after all.... I read it on the INTERNETS...

So, ya know...

23 posted on 08/25/2012 8:36:34 AM PDT by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: SteveH
"ok, i’ll ask: who does the newly created money go to?"

I'll take some. I can stimulate the economy if they give me a couple billion.

I'll buy water to sell then dilute it and double my money!

24 posted on 08/25/2012 8:38:57 AM PDT by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: KarlInOhio
Is your last name "Bank"? No? Well no free money for you!

Free money? What bank do you imagine is getting free money?

25 posted on 08/25/2012 2:55:41 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: ex-Texan

Many of those Bing links are to blogs.

Any retard can write any kind of nonsense on his blog.

Blogs have as much credibility as a pile of poo.


26 posted on 08/26/2012 5:12:41 AM PDT by humblegunner (Pablo, being wily, pities the fool.)
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