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Just a regular American
Well a Republican is now (in January) in the line of succession.
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The uncertainty was removed last night.
Get in the market now as the boom is coming.
The uncertainty was removed last night.
Get in the market now as the boom is coming.
LOL because getting investment advice from a self-proclaimed WHITE Rastafari pot-head makes perfect sense!
Quantitative easing 2 is here: Federal Reserve - Yahoo! FinanceHere's the news Wall Street has been waiting for: In its latest move to jump start the sluggish recovery, the Federal Reserve will pump up to $900 billion into the economy.
The central bank will buy $600 billion in long-term Treasuries over the next eight months, the Fed said Wednesday. The Fed also announced it will reinvest an additional $250 billion to $300 billion in Treasuries with the proceeds of its earlier investments.
The bond purchases aimed at stimulating the economy -- a policy known as quantitative easing -- will be completed by the end of the third quarter of 2011.
Ever since the Fed first signaled back in August that it was considering a second round of monetary stimulus, dubbed QE2, investors have been preoccupied with speculating on how much the Fed would buy.
Now the verdict is in, and is roughly in line with forecasts. Mainstream estimates had predicted a total between $500 billion and $1 trillion.
"It was all largely as expected," said Calvin Sullivan, chief strategy officer at Morgan Keegan. "The markets are responding as one would expect."
The Fed also reiterated its bearish view on the stalling economy, saying "the pace of recovery in output and employment continues to be slow."
Amid sluggish consumer spending, businesses have been reluctant to hire and the economy has grown at a snail's pace. At the same time, inflation is dangerously low, causing some economists to warn that the United States may even be flirting with deflation -- a debilitating drop-off in prices and demand.
The Fed has already kept the federal funds rate, a benchmark for interest rates on a variety of consumer and business loans, at historic lows near zero since December 2008. The Fed said Wednesday that it would continue to hold the rate at "exceptionally low levels" for an "extended period."
The federal funds rate is the central bank's key tool to spur the economy and a low rate is thought to encourage spending by making it cheaper to borrow money.
This is the statement of the minutes of the Federal Open Market Committee meeting released Nov. 3, 2010.
Read the Nov. 3, 2010 Fed statement - Yahoo! Finance
The Federal Reserve announced plans Wednesday to pump hundreds of billions of dollars into the U.S. financial system, an expansive and unconventional new effort to try to get the sputtering U.S. economy on track.
The Fed will, in effect, print money to buy Treasury bonds - an extra $600 billion worth by June 2011 - in a bid to lower long-term interest rates. The action should make it cheaper for Americans to borrow money, take out a mortgage or refinance their house, and for businesses to borrow money in order to expand.
While widely anticipated, the move was more aggressive than analysts had expected. Financial markets were little changed immediately following the news of the Fed's new "quantitative easing" measure, as economists call the strategy.
In a statement accompanying the decision, the Fed's policymaking committee emphasized that the action was driven by stubbornly high unemployment and ultra-low inflation.
Information on the economy received by Fed members since the last policy committee meeting in September "confirms that the pace of recovery in output and employment continues to be slow," the Federal Open Market Committee statement said.
Fed to buy $600 billion in bonds to boost economy
Quantitative easing 2 is here: Federal Reserve - Yahoo! FinanceHere's the news Wall Street has been waiting for: In its latest move to jump start the sluggish recovery, the Federal Reserve will pump up to $900 billion into the economy.
The central bank will buy $600 billion in long-term Treasuries over the next eight months, the Fed said Wednesday. The Fed also announced it will reinvest an additional $250 billion to $300 billion in Treasuries with the proceeds of its earlier investments.
The bond purchases aimed at stimulating the economy -- a policy known as quantitative easing -- will be completed by the end of the third quarter of 2011.
Ever since the Fed first signaled back in August that it was considering a second round of monetary stimulus, dubbed QE2, investors have been preoccupied with speculating on how much the Fed would buy.
Now the verdict is in, and is roughly in line with forecasts. Mainstream estimates had predicted a total between $500 billion and $1 trillion.
"It was all largely as expected," said Calvin Sullivan, chief strategy officer at Morgan Keegan. "The markets are responding as one would expect."
The Fed also reiterated its bearish view on the stalling economy, saying "the pace of recovery in output and employment continues to be slow."
Amid sluggish consumer spending, businesses have been reluctant to hire and the economy has grown at a snail's pace. At the same time, inflation is dangerously low, causing some economists to warn that the United States may even be flirting with deflation -- a debilitating drop-off in prices and demand.
The Fed has already kept the federal funds rate, a benchmark for interest rates on a variety of consumer and business loans, at historic lows near zero since December 2008. The Fed said Wednesday that it would continue to hold the rate at "exceptionally low levels" for an "extended period."
The federal funds rate is the central bank's key tool to spur the economy and a low rate is thought to encourage spending by making it cheaper to borrow money.
I don't think a boom is coming.
The economy should get better the first day Boner becomes speaker just like the CON$ said the economy went south the first day Pelosi became speaker.Can't wait.
How long will it take?