All nonsense.
This will net = Zero jobs, zero increase in industrial output & zero effect on housing.
The rates have all been very very low for a long time.
What this WILL do is cause an immediate uptick in commodity prices such as oil - look for future to reach new highs.
And in all of those things that little bennie doesn’t call inflation like gas and food.
This program is intended to rescue the banks from the bad loans that the dimrat congress forced the banks to make.
It is passing the worthless assets around the table.
The bad loans still exist, but now they will be taken off the books of the banks and be held by the federal reserve.
But the debt still exists.
Thanks barney frank and chriss dodd.
They retire and ride off with their retirement funds and leave us all holding the bag.