Fed trio move closer to QE3 [NotSoBreaking] - MarketTicker Forums


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User Info	Fed trio move closer to QE3 in forum [NotSoBreaking]
Mondocondo Posts: 3684 Incept: 2007-12-03 Miami	Quote: WASHINGTON (MarketWatch) — A trio of influential Federal Reserve officials on Monday sounded the alarm on the economy, and suggested that the central bank is close to starting another round of asset purchases. In a speech to a bankers’ convention in Idaho, John Williams, the president of the San Francisco Federal Reserve Bank, said progress on bringing down the unemployment rate is now running at a “snail’s pace,” and perhaps even stalled. He said the Fed is on the “edge” of being forced from the sideline to once again prop up growth. ... Earlier on Monday, two of the most dovish Fed officials speaking at a conference in Bangkok, also expressed concern that the economy was struggling and said they would support more quantitative easing. Boston Fed President Eric Rosengren said more quantitative easing is appropriate as labor market growth has slowed fairly noticeably and the global economy is vulnerable to financial shocks. ... Chicago Fed president Charles Evans repeated his call for aggressive action to counter the weak outlook. “I support using our balance sheet to provide additional accommodation,” Evans said. http://www.marketwatch.com/story/feds-wi.... 2012-07-09 17:34:55 Permalink
Pietertvl Posts: 3587 Incept: 2007-12-05 NFA	They use a weakening economy as cover to do things on behalf of their client/owner banks. Notice how they NEVER explain how their asset purchases have any beneficial effects (direct, even indirect) on Main Street. (I'm not talking about cheaper wholesale money, since neither small businesses nor consumers ever see that even if they somehow have access to new credit now.) They won't explain that because they can't, which is because there are no such benefits. Isn't that right, Eric? They must also see the business cycle as having no purpose whatsoever. No excesses to purge ... nope, none at all. ---------- "All the perplexities, confusion and distresses in America arise not from defects in the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation." ~ John Adams Last modified: 2012-07-09 18:08:26 by pietertvl 2012-07-09 18:05:13 Permalink
Bjonsson Posts: 346 Incept: 2010-03-10 California	I wonder what kind of "assets" the Fed would be snapping up? What are the odds that it ends up being a bunch of utterly worthless Southern European crap. "Help Main Street" my ass. 2012-07-09 19:26:59 Permalink
1lumpor2 Posts: 2649 Incept: 2011-05-01 Banned	Because it's worked so well this far. ---------- -- Done 2012-07-09 19:54:26 From PDA Permalink
Rvacha Posts: 8295 Incept: 2008-10-03 Cleveland	Has the trio consulted Krugman on the acceptable size yet? The last two were clearly not large enough ---------- "I suggest you panic." - Hugh Hendry 2012-07-09 22:54:44 Permalink
Anti Posts: 4282 Incept: 2007-10-09	Dude where's my lynch mob? ---------- Health is better than health insurance http://gerson.org/ Over the past 60 years, thousands of people have used the Gerson Therapy to recover from so-called “incurable” diseases such as cancer, diabetes, heart disease and arthritis. 2012-07-09 23:19:41 Permalink
Mezcal Posts: 1831 Incept: 2007-08-04	How about you Fed fellas try this first. We'll talk again after you're done. ---------- "God knows who is a counter-party to whom in the mammoth international cluster*** of accounting fraud that passes for a commerce in capital."* Kunstler, 13 June 2011 Last modified: 2012-07-10 00:03:50 by genesis Reason: Image removed -- don't do that again. 2012-07-09 23:46:29 Permalink
Fraudster Posts: 4173 Incept: 2011-05-10	We have a few more years yet before it goes IMHO. ---------- *"Let China sleep, for when she wakes, she will shake the world."* - Napoleon Bonaparte *"Circulation ceases first at the outer edges [Europe and Japan]. It will take a while yet for the decay to reach the heart [America]."* - Foundation & Empire by Isaac Asimov 2012-07-10 00:18:33 Permalink
Ghopper Posts: 2301 Incept: 2011-06-11 Staten Island, NY	Considering the drought damage to crops here in the US, can you imagine what a QE3 would do to the prices of food commodities? To the Moon. 2012-07-10 07:44:07 Permalink
Jazen Posts: 3416 Incept: 2007-07-17 ****cago	Ghopper, corn alone will make oil and gas go to Mars. ---------- I hate our Government, but I still love America. 2012-07-10 09:21:52 Permalink
Jackl Posts: 2228 Incept: 2008-01-17	The have little choice, with the recent commodity firm failure about, me thinks a blackhole in the market may be eating liquidity. They either fill the gaps, or watch it burn. Prices be damned. Disclaimer: I'm talking out my ass with wild speculation. 2012-07-10 09:41:28 Permalink
Mpilar Posts: 5579 Incept: 2009-01-05 Nashville, TN Online	Announce...ramp...back off...rinse, repeat... (at least, as long as it works) ---------- Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats. H. L. Mencken 2012-07-10 09:47:29 Permalink