Fed Prints more money in a last attempt to save Obama

[Jroc]

Your money will be worth less....40 billion a month, the presses are running over time with this bunch...This is unreal to me:

Fed Pulls Trigger, to Buy Mortgages in Effort to Lower Rates

The Federal Reserve fulfilled expectations of more stimulus for the faltering economy, taking aim now at driving down mortgage rates until an improvement in unemployment that the central bank says will be a problem for several years.



Home with a reduced price sign. Mortgage rates are near record lows.The Fed said it will buy $40 billion of mortgage-backed securities per month in an attempt to foster a nascent recovery in the real estate market. The purchases will be open-ended, meaning that they will continue until the Fed is satisfied that economic conditions, primarily in unemployment, improve.

There's strong hints that they'll do Treasurys next," Joe LaVorgna, chief economist at Deutsche Bank Advisors, said in a phone interview from London."They're pulling out all the stops to try to get this economy to gain some traction and, most important, to get unemployment down."

Enacting the third leg of quantitative easing will take the Fed's money creation past the $3 trillion level since it began the process in 2008.
"The Committee is concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions," the Open Market Committee said in a statement. (More: Read the Fed's Full Statement Here.)

As a follow-up to the statement, the Fed released its latest economic projections, which foresee slow growth including a jobless rate that stays above 7 percent into 2014. The economic projections expect growth to remain slow but to improve due to the stimulate measures announced Thursday.


In addition, the Fed said it will continue its program of selling shorter-dated government debt and buying longer-term securities, a mechanism known as Operation Twist. It also will continue its policy of reinvesting principal payments from agency debt and mortgage-backed securities back into mortgages

Fed Pulls Trigger, to Buy Mortgages in Effort to Lower Rates - Yahoo! Finance

 

[ScienceRocks]

Inflation

 

[Shelzin]

Your money will be worth less....40 billion a month, the presses are running over time with this bunch...This is unreal to me:

Fed Pulls Trigger, to Buy Mortgages in Effort to Lower Rates

The Federal Reserve fulfilled expectations of more stimulus for the faltering economy, taking aim now at driving down mortgage rates until an improvement in unemployment that the central bank says will be a problem for several years.



Home with a reduced price sign. Mortgage rates are near record lows.The Fed said it will buy $40 billion of mortgage-backed securities per month in an attempt to foster a nascent recovery in the real estate market. The purchases will be open-ended, meaning that they will continue until the Fed is satisfied that economic conditions, primarily in unemployment, improve.

There's strong hints that they'll do Treasurys next," Joe LaVorgna, chief economist at Deutsche Bank Advisors, said in a phone interview from London."They're pulling out all the stops to try to get this economy to gain some traction and, most important, to get unemployment down."

Enacting the third leg of quantitative easing will take the Fed's money creation past the $3 trillion level since it began the process in 2008.
"The Committee is concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions," the Open Market Committee said in a statement. (More: Read the Fed's Full Statement Here.)

As a follow-up to the statement, the Fed released its latest economic projections, which foresee slow growth including a jobless rate that stays above 7 percent into 2014. The economic projections expect growth to remain slow but to improve due to the stimulate measures announced Thursday.


In addition, the Fed said it will continue its program of selling shorter-dated government debt and buying longer-term securities, a mechanism known as Operation Twist. It also will continue its policy of reinvesting principal payments from agency debt and mortgage-backed securities back into mortgages

Fed Pulls Trigger, to Buy Mortgages in Effort to Lower Rates - Yahoo! Finance

The Fed is not political and doesn't answer to the president. They are to congress... But congress doesn't seem to care. The Fed does whatever the hell the Fed wants to.

 

[Moonglow]

inflation is on it's way thanks to the drought, but you can blame Oblama it's okay.

 

[Moonglow]

Your money will be worth less....40 billion a month, the presses are running over time with this bunch...This is unreal to me:

Fed Pulls Trigger, to Buy Mortgages in Effort to Lower Rates

The Federal Reserve fulfilled expectations of more stimulus for the faltering economy, taking aim now at driving down mortgage rates until an improvement in unemployment that the central bank says will be a problem for several years.



Home with a reduced price sign. Mortgage rates are near record lows.The Fed said it will buy $40 billion of mortgage-backed securities per month in an attempt to foster a nascent recovery in the real estate market. The purchases will be open-ended, meaning that they will continue until the Fed is satisfied that economic conditions, primarily in unemployment, improve.

There's strong hints that they'll do Treasurys next," Joe LaVorgna, chief economist at Deutsche Bank Advisors, said in a phone interview from London."They're pulling out all the stops to try to get this economy to gain some traction and, most important, to get unemployment down."

Enacting the third leg of quantitative easing will take the Fed's money creation past the $3 trillion level since it began the process in 2008.
"The Committee is concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions," the Open Market Committee said in a statement. (More: Read the Fed's Full Statement Here.)

As a follow-up to the statement, the Fed released its latest economic projections, which foresee slow growth including a jobless rate that stays above 7 percent into 2014. The economic projections expect growth to remain slow but to improve due to the stimulate measures announced Thursday.


In addition, the Fed said it will continue its program of selling shorter-dated government debt and buying longer-term securities, a mechanism known as Operation Twist. It also will continue its policy of reinvesting principal payments from agency debt and mortgage-backed securities back into mortgages

Fed Pulls Trigger, to Buy Mortgages in Effort to Lower Rates - Yahoo! Finance

The Fed is not political and doesn't answer to the president. They are to congress... But congress doesn't seem to care. The Fed does whatever the hell the Fed wants to.

It's the feds money, they are simply trying to help the economy, finally. most people think they are using federal funds, which they are not. The big boys are putting out the dough.

 

[Shelzin]

Your money will be worth less....40 billion a month, the presses are running over time with this bunch...This is unreal to me:




Fed Pulls Trigger, to Buy Mortgages in Effort to Lower Rates - Yahoo! Finance

The Fed is not political and doesn't answer to the president. They are to congress... But congress doesn't seem to care. The Fed does whatever the hell the Fed wants to.

It's the feds money, they are simply trying to help the economy, finally. most people think they are using federal funds, which they are not. The big boys are putting out the dough.

Oh? So they think devaluing the dollar even more than it has will make them money?

That's of course assuming that it's the Feds money.

I would like to note... If they are printing more money, it's not the Feds money. It's government money that isn't overseen by the government.

You may be right... It might be the Feds money. But I doubt it.

 

[Jroc]

Bernanke is also trying to save his own job...

Romney confirms he'd replace Bernanke

Federal Reserve Chairman Ben Bernanke would be looking for a new job if Mitt Romney wins the White House.

The presumptive Republican candidate told Fox Business on Thursday that he would like to pick a new person to head the nation's central bank when Bernanke's term expires in 2014.


"I would like to select ... a new person to that chairman position, someone who shared my economic views, someone that I thought was sympathetic to the needs of our nation," he said.

Bernanke's efforts to boost the economy have come under heavy Republican scrutiny, and Romney had previously indicated he would be seeking a change at the Fed if elected president.

Romney confirms he'd replace Bernanke - The Hill's On The Money

 

[pinqy]

hmmm weren't there cries about massive inflation after QE1 and QE2?

Since the additional money isn't really circulating out into the consumer market, we won't see much inflation

 

[Jroc]

hmmm weren't there cries about massive inflation after QE1 and QE2?

Since the additional money isn't really circulating out into the consumer market, we won't see much inflation

Really? So we're just buying up tons of bad debt right?

 

[Shelzin]

hmmm weren't there cries about massive inflation after QE1 and QE2?

Since the additional money isn't really circulating out into the consumer market, we won't see much inflation

Eh... If it's not making it's way to the consumer market.... How is it helping the economy?

 

[Avatar4321]

hmmm weren't there cries about massive inflation after QE1 and QE2?

Since the additional money isn't really circulating out into the consumer market, we won't see much inflation

So it's just going to create a time bomb for when the velocity shoots through the roof.

 

[Jroc]

Paul Ryan Would Have Fed Forget Jobs and Focus on Inflation

Currently, the Fed operates under what is called the dual mandate, with simultaneous goals of keeping prices stable and fostering maximum employment. In 2008, Ryan sponsored a bill to repeal that dual mandate, reducing the Fed's responsibility to simply keeping prices stable.

Proponents of this point of view argue that accommodative monetary policy, exemplified in the Fed's two rounds of quantitative easing, could lead to excessive inflation and a weaker dollar.

Ryan has maintained the pressure on the Federal Reserve. At a February hearing, Ryan criticized the Fed's tools for promoting jobs, telling Federal Reserve Chairman Ben Bernanke that such tactics "are limited, imprecise, and can have highly undesirable unintended consequences."

He isn't alone; several of his conservative congressional colleagues are in the single-mandate camp. Texas Republican Rep. Kevin Brady introduced a bill earlier this year that would also have eliminated the dual mandate.

Paul Ryan Would Have Fed Forget Jobs and Focus on Inflation - US News and World Report

 

[JWBooth]

I am not sure that you can tie this act into saving this potus.
Bernanke has always been a firm believer in worthless money and the stimulative effect of artificially low interest rates. The timing is suspect, but it had been speculated for some time that another round was coming, just the date was uncertain.
How supposedly smart people can believe that an unending supply of monopoly money does anything more than destroy an economy is beyond belief.

 

[JWBooth]

hmmm weren't there cries about massive inflation after QE1 and QE2?

Since the additional money isn't really circulating out into the consumer market, we won't see much inflation

Uh huh, and that food and gasoline price rise thingy is just a coincidence.

 

[jillian]

Your money will be worth less....40 billion a month, the presses are running over time with this bunch...This is unreal to me:

Fed Pulls Trigger, to Buy Mortgages in Effort to Lower Rates

The Federal Reserve fulfilled expectations of more stimulus for the faltering economy, taking aim now at driving down mortgage rates until an improvement in unemployment that the central bank says will be a problem for several years.



Home with a reduced price sign. Mortgage rates are near record lows.The Fed said it will buy $40 billion of mortgage-backed securities per month in an attempt to foster a nascent recovery in the real estate market. The purchases will be open-ended, meaning that they will continue until the Fed is satisfied that economic conditions, primarily in unemployment, improve.

There's strong hints that they'll do Treasurys next," Joe LaVorgna, chief economist at Deutsche Bank Advisors, said in a phone interview from London."They're pulling out all the stops to try to get this economy to gain some traction and, most important, to get unemployment down."

Enacting the third leg of quantitative easing will take the Fed's money creation past the $3 trillion level since it began the process in 2008.
"The Committee is concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions," the Open Market Committee said in a statement. (More: Read the Fed's Full Statement Here.)

As a follow-up to the statement, the Fed released its latest economic projections, which foresee slow growth including a jobless rate that stays above 7 percent into 2014. The economic projections expect growth to remain slow but to improve due to the stimulate measures announced Thursday.


In addition, the Fed said it will continue its program of selling shorter-dated government debt and buying longer-term securities, a mechanism known as Operation Twist. It also will continue its policy of reinvesting principal payments from agency debt and mortgage-backed securities back into mortgages

Fed Pulls Trigger, to Buy Mortgages in Effort to Lower Rates - Yahoo! Finance

romney's losing. he's failed at every major opportunity he's had to show he's ready for the job.

bernanke just got tired of letting you guys drag down the economy so you have a better chance of winning. isn't it also possible that he might have gotten tired of right blaming him for the economy?

yes, he took sides.

good on him.

 

[LordBrownTrout]

O promised us 6 percent and lower unemployment by now. More failed promises based on failed policies. But hey, the stimulus worked so well the first six times.... The quintessential clinical definition of insanity.

 

[Dont Taz Me Bro]

romney's losing. he's failed at every major opportunity he's had to show he's ready for the job.

bernanke just got tired of letting you guys drag down the economy so you have a better chance of winning.

Why would we need Republicans to drag it down when we already have Obama?

isn't it also possible that he might have gotten tired of right blaming him for the economy?

Then perhaps he should stop fucking it up with his failed Keynesian beliefs.

 

[Liberal]

This is in no way tied to the POTUS..

The fed has never given a shit, they just do what they want.

Besides the economy is not a big problem for the POTUS, most Americans understand that after what happened it would probably take a while.. If the republicans were actually successful at proving the current state of the economy on Barack (which they can't) they would be winning.

 

[8537]

Can someone please explain why, in an environment of very high unemployment and very low inflation the Fed should take actions to combat....

Inflation?

It's like we haven't learned anything in the past 70 years. How many millions of Americans have to be out of work before you expect the Fed to address unemployment (one half of its mandate, mind you)

 

[P@triot]

Your money will be worth less....40 billion a month, the presses are running over time with this bunch...This is unreal to me:

He's been printing money since he took office and passing it out to unions trying to make everyone "equal" while attempting to buy re-election. We're going to see catastrophic inflation in the very near future. It's the final piece of the Jimmy Carter plan (the man has completely followed the blue print of the Jimmy Carte epic failure, right down to the letter - from creating energy shortage to creating inflation).

I almost wonder if this last step here of announcing they are printing money is to intentionally create as much inflation as possible. He knows he's not getting re-elected, I think he wants to leave as catastrophic a situation for Romney as possible in hopes of the Dumbocrats reclaiming the White House in 2016.