i think you've done enough already...
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 ...
““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!”
That does it! When inflation deprives us of our cookies, things have gone too far. We serfs have our limits.
The Fed can do more.......
The strongest possible statement from the Fed that would do the most good is to promote a return to the gold standard and hard money
World markets rally on Fed vow to do more
PARIS (AP) — World stock markets rallied Friday after Federal Reserve Chairman Ben Bernanke promised that the central bank could do more to stimulate the U.S. economy.
The euro shot up past $1.26 at one point for the first time in over a month; by late afternoon, it was at $1.2565.
The boost came after Bernanke spoke at an economic forum in Jackson Hole, Wyoming. Expectations for new stimulus had been low after an economic survey earlier in the week sounded a fairly positive note.
But Bernanke said Friday that because U.S. unemployment is so high, the Fed would do more to boost the economy, calling the recovery "far from satisfactory."
He added that the central bank "should not rule out" new policies to improve the job market.
After a cautious open, Wall Street shot up.
Stop printing paper money.
Stop squeezing the throat of the small businessman.
WRONG!!! But thanks for playing.
"The Congress established three key objectives for monetary policy—maximum employment, stable prices, and moderate long-term interest rates—in the Federal Reserve Act." 12 U.S.C. § 225a
"The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy’s long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates. "
Bernanke is doing exactly what he is supposed to be doing. And he is doing what is best for the country.
It's Congress and the Executive that needs to get it's act in gear and fulfill their responsibilities.
Ben will step back from the printing press when unemployment is down, which won’t likely happen until the executive and congress addresses the unwise trade policies that have decimated our industries.
The Fed doesn’t spend. That’s Congress.
How much higher does he figure they can get it?
i think you've done enough already...
President Bush appointed Bernanke. All that Ben can do is to try to keep the fall of the dollar stable. If the dollar continues to be pegged too high, the few remaining manufacturers who have products made in the USA (as differentiated from Americans who own manufacturing done elsewhere, also included in US manufacturing statistics) will move production overseas or simply shut down. A high dollar makes exports uninviting to potential foreign customers. Can’t have those government incomes (incl. pensions) riding high with nothing but debt to feed them.
Does anyone know where I can secure info as to the value of a dollar over time?
...called the weak job market “a grave concern” that causes “enormous suffering,” wastes talent and can inflict lasting damage on the economy.
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