NEW YORK (MarketWatch) — U.S. stocks rallied after the Federal Reserve announced that it would begin slowing down the pace of bond purchases, known as quantitative easing. The Fed policymakers voted to cut $10 billion a month from its $85 billion bond-buying program, starting in January.
Still the biggest Ponzi scheme in the annals of recorded human history. Borrowing money from ourselves creating Monoploy money in the process. A big shell game. Robbing Peter to pay Paul.
And the market skyed.
Go figure.
It’s not working, so let us keep doing it
That is about a trillion a year. Insane
LOLOL
A $120B cut in government annual spending - Right... Either they've figured a way to squeeze more from the taxpayers, or it's just another ruse.
This ought to be quite interesting over the weeks ahead.
When I saw this announcement I had a flashback to my bad old days in the Navy.
I heard the Diving Alarm followed by the Collision Alarm. I guess I could have added the “Power Plant Casualty Alarm” but I don’t remember what that one sounds like.
What a load of Bravo Sierra.
Let me tell you what the Fed is going to do....
They’re going to print.
Then they’re going to print some more.
Then they’re going to print more still.
And just when you thought they were going to “taper”, they’re going to print some more.
They’re going to print to wake the dead.
They’re going to print till their eyes bleed.
Because that’s what their political and corporate cronies want.
” the FOMC did not modify its forward guidance, leaving the unemployment rate threshold for the first rate hike at 6.5%”
That is not correct. From the statement:
The Committee now anticipates, based on its assessment of these factors, that it likely will be appropriate
to maintain the current target range for the federal funds rate well past the time that the unemployment
rate declines below 6-1/2 percent, especially if projected inflation continues to run below the Committee’s
2 percent longer-run goal.
And that is why the market took off, not the $10 billion taper.
It appears people buying/selling Dollars don't know what to do except scream, holler, run in circles, or buy or sell or... whatever.
I can't say as I blame them.
Wow, a whole ten billion. Wow. I’m impressed. /drippy-drippy-sarcasm
I am dreaming; along w/ USA and apparently the whole earth.
Now I understand why USG _rammed_ a continued deficit budget into “law”.
The TAPER CAPER!
But the market is happy, Dow Jones Industrial up $293+change. 90 day TBills close at .06%(that is 0.0006). Helicopter Ben is happy. Obama is happy. Biden is always happy. Everybody get happy but not too happy!
Less than 12%