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)
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(Excerpt) Read more at businessinsider.com ...
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.
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.
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.
more “easing?”
Interest rates are nearly at zero already.
How about crediting my bank account $1,000,000? I will use that on stimulus.
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.
So the plan is to put the printing machines into overdrive. Shesh.
Is your last name "Bank"? No? Well no free money for you!
“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?
The experiment has failed. From this point forward, weakening the Dollar by printing worthless paper should be considered TREASON!
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.
ok, i’ll ask: who does the newly created money go to?
Uncle Sam Needs YOU for a Bailout: 6 Reasons Another Big Banking Crisis Is Coming Our Way !
Recession imminent if ‘fiscal cliff’ of tax hikes, budget cuts not averted, CBO says
LOL !
You do your credibility no service by whining about the moderators doing the vetting of your sources that you refuse to do yourself.
Personal attacks and name calling are supposed to be barred by FR rules.
The truth is not a personal attack. You post all kinds of discredited junk such as FEMA camp idiocy that was debunked years ago.
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
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 ___ ?
The arrogant ones are those who spew this crap without bothering to take a skeptical look at the sources.
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