Posted on 06/20/2012 9:45:55 AM PDT by tcrlaf
As always, Goldman Corzined anyone who listened to its call that an epic QE is coming. Fed did the worst possible outcome for risk- merely extended Twist, just as the credit market predicted it would 3 weeks ago:
FED SAYS IT IS PREPARED TO TAKE FURTHER ACTION `AS APPROPRIATE FED TWIST EXTENSION TO SWAP $267 BLN OF TREASURIES BY END 2012 FED TO SELL OR REDEEM `EQUAL AMOUNT' DEBT DUE 3 YEARS OR LESS FED TO BUY TREASURIES DUE IN 6 TO 30 YEARS AT `CURRENT PACE' FED SAYS EMPLOYMENT GROWTH `HAS SLOWED' FED SAYS INFLATION HAS DECLINED, REFLECTING OIL FED REITERATES ECONOMY `EXPANDING MODERATELY' LACKER DISSENTS FROM FOMC DECISION
(Excerpt) Read more at zerohedge.com ...
This is going to get lost anongst today's Fast&Furious news, but it's going to cost YOU, big-time.
Gas is also down for Herr Hussein’s election chances. Was $3.11 here yesterday.
They don’t seem to be employing that tactic here where gas is still 3.999
Let’s twist again like we did last summer!
The Fed creating more debt for government employee pay and inflating the dollar will pressure oil prices upward. The saturation of the media about Europe helped to prop the dollar a little, but the dollar will fall much in the long run, especially after our own bond collapse.
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