Market falls another 120 points today.
“Unsterilized monetization”.
Don’t worry!
The market autoclave will roast all of the speculative germs out of the monetary base...or something.
Yep. The Fed said a month or more ago, that ongoing and indefinite QE would be pegged to the unemployment situation.
That would put a stop to the insane borrowing of the Federal and state governments in a hurry as interest rates skyrocketed & governmental borrowing crowded out all other credit.
As it stands, the Fed is the enabler of the spendaholics in DC.
It is hard to inflate the currency when wages are dropping—but that won’t stop the Fed from trying!
[Bloomberg titles and links only—no content allowed to be posted to Free Republic from Bloomberg.]
Dollar Weakens as Fed Minutes Suggest More Bond Buying
http://www.bloomberg.com/news/2012-11-13/euro-trades-near-two-month-low-before-industrial-production-data.html
Fed Says ‘a Number’ on FOMC Saw Need for Additional QE
http://www.bloomberg.com/news/2012-11-14/fed-says-a-number-on-fomc-saw-need-for-additional-qe.html