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Bernanke: With unemployment high, Fed can do more
Washinton Times ^ | 8/31/12 | Paul Wiseman

Posted on 08/31/2012 11:13:34 AM PDT by KansasGirl

JACKSON HOLE, Wyo. — Chairman Ben Bernanke made clear Friday that the Federal Reserve will do more to boost the economy because of high U.S. unemployment and an economic recovery that remains “far from satisfactory.”

He also argued that the Fed’s moves so far to keep interest rates at record lows and encourage borrowing and spending have helped bolster the economy.

Bernanke stopped short of committing the Fed to any specific move, such as another round of bond purchases to lower long-term rates. But in a speech at an annual Fed conference in Jackson Hole, Wyo., Bernanke said that even with rates at super-lows, the Fed can do more.

Snip

The most dramatic step the Fed could take would be another round of bond buying. This is known as quantitative easing, or QE. In two rounds of QE, the Fed bought more than $2 trillion of Treasury bonds and mortgage-backed securities. Many investors have been hoping for a third round — QE3— to be unveiled as soon as the Fed’s next policy meeting in September.

In light of Bernanke’s comments Friday, some analysts said that might be a stronger possibility now.

“Bernanke has taken a further step along the path to more policy stimulus, most likely a third round of asset purchases (QE3) to be announced at the mid-September FOMC meeting,” said Paul Dales, senior U.S. economist at Capital Economics.

(Excerpt) Read more at p.washingtontimes.com ...


TOPICS: Crime/Corruption; Front Page News; Government; Politics/Elections
KEYWORDS: bernanke; qe3
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1 posted on 08/31/2012 11:13:37 AM PDT by KansasGirl
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To: KansasGirl

“Do more” what? SABOTAGE? It’s worked out well so far! Collapsing a free-market, capitalist Republic without making it appear too obvious ain’t easy, ya know!!


2 posted on 08/31/2012 11:17:30 AM PDT by GeorgeWashingtonsGhost
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To: KansasGirl
Chairman Ben Bernanke made clear Friday that the Federal Reserve will do more to boost the economy

Its not his job to stimulate the economy. His job is to keep the value of the dollar stable. If he'll do that, his job is done.

Building the economy is what we do if guys like O and Bernanke will just stop monkeying with the dials and switches.

3 posted on 08/31/2012 11:21:14 AM PDT by marron
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To: KansasGirl

The best thing the Fed can do is dissolve.


4 posted on 08/31/2012 11:22:06 AM PDT by wastedyears (The First Law of Heavy Metal: Not all metal is satanic.)
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To: KansasGirl

Beware the “Lame Duck” beltway free for all!


5 posted on 08/31/2012 11:23:11 AM PDT by swamprebel (a Constitution once changed from Freedom, can never be restored.)
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To: KansasGirl

Ben needs to step back from the printing press.

paid $4.03 for a loaf of plain white bread yesterday.


6 posted on 08/31/2012 11:25:37 AM PDT by sf4dubya (I rebelled against my parents by becoming a conservative)
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To: KansasGirl
Bernanke is going to REPEAT a FAILED
policy of Keynesian "economics".

Insanity is repeating a failed policy and
expecting a different outcome.


7 posted on 08/31/2012 11:27:52 AM PDT by Uri’el-2012 (Psalm 119:174 I long for Your salvation, YHvH, Your teaching is my delight.)
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To: KansasGirl

Good ol’ Helicopter Ben, ready to print more worthless dollars to bail out Obama. We always knew he was a political hack.

Some day, when all those worthless trillions come home to roost with soaring inflation that will cruse the country, people will curse his name.


8 posted on 08/31/2012 11:31:48 AM PDT by txrefugee
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To: KansasGirl

The Obamadork’s prime talent appears to be his ability to make sure that absolutely nobody working for him possesses any measurable ability to do useful work.

Berna-twinkie is a prime example.


9 posted on 08/31/2012 11:32:45 AM PDT by Da Coyote
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To: sf4dubya

Pretty fancy bread. I pay under $1.50 for King Soopers Wheat and I live in the sticks.


10 posted on 08/31/2012 11:34:17 AM PDT by SaxxonWoods (....The days are long, but the years are short.....)
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To: marron

The feds job as originally envisioned was to bail out Big Banks and Big Business. I forgot how they sold ig to the public but probably it had something to do with dollar stability. Why is that the goal again? Firstly they’re crapat it since by the time their adjustment takes effect conditions have changed and since they can’t tell the future they’re apt to be wrong.

Aside from that there’s nothing inherently good about price stability. If personal computers were ss expensive yesterday as they were in 1975 would we be better off? The price of money is no different than anything else. It is prone to the laws of supply and demand. If production expands why not let it deflate? If we’re in a recession like now why not let it rise? That way it might work the way it’s supposed to and convey information to us rather than us trying and failing to use it to trick everyone into thinking the economy’s all sunshine and lollipops.


11 posted on 08/31/2012 11:36:08 AM PDT by Tublecane
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To: SaxxonWoods

Whoops check that. $1.99, but there are cheaper wheat breads available down to 99 cents.


12 posted on 08/31/2012 11:36:29 AM PDT by SaxxonWoods (....The days are long, but the years are short.....)
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To: KansasGirl

He only talks now since the markets will move on that, which is his goal.

He can’t do anything until the fiscal cliff has passed. He can’t know what to do until the coming midnight compromise on the cliff items is announced around Jan 1 or shortly after.

That helps with trading between now and then, so I’m good with it.


13 posted on 08/31/2012 11:41:34 AM PDT by SaxxonWoods (....The days are long, but the years are short.....)
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To: GeorgeWashingtonsGhost

WE AINT GOT IT,,DONT SPEND IT


14 posted on 08/31/2012 11:43:12 AM PDT by rxtn41
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To: txrefugee

It’s not that he’s a political hack. He almost certainly is but any fed chairman would do the same. That’s what it’s there for and that’s what the dominant economic theory tells them to do.


15 posted on 08/31/2012 11:44:19 AM PDT by Tublecane
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To: SaxxonWoods

Here in Seattle the cost of food items on sale stays about the same, but...

The number of sales goes down, down, down.

Had to pay full price on orange juice and cookies several times this summer because NOTHING was on sale.

And, manufacturers continue to cut quantity size but retain the original price.

“Mother’s Cookies,” which went bankrupt two years back, just cut my favorite from 14 oz. to 12 oz.

Wow, does that get me steamed!


16 posted on 08/31/2012 11:51:05 AM PDT by zeestephen
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To: KansasGirl

Uh oh.... Here come the $1,000 checks!!! Wonder if he’ll try to get them out the door in good time before the election...


17 posted on 08/31/2012 11:51:43 AM PDT by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
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To: KansasGirl

A drowning man can ask for a glass of water too!

LLS


18 posted on 08/31/2012 11:57:54 AM PDT by LibLieSlayer ("if it looks like you are not gonna make it you gotta get mean, I mean plumb mad-dog mean" J. Wales)
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To: KansasGirl

It will be a treat to see this grifter out on his butt the day Romney is inaugurated.


19 posted on 08/31/2012 12:20:28 PM PDT by Iron Munro ("In any compromise between good and evil, it is only evil that can profit." - Ayn Rand)
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To: Iron Munro

My thoughts exactly.


20 posted on 08/31/2012 12:27:21 PM PDT by KansasGirl ("If you have a business, you didn't build that. Somebody else made that happen."--B. Hussein Obama)
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