Good grief, Ben Bernanke has gone off the deep end. I don’t know if this is QE4, or doubling down on QE3, either way, it doesn’t sound good. Tyler Durden calls it QE4EVA, which sounds about right. This is insanity.
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The Fed says it plans to keep its key short-term rate near zero until the unemployment rate reaches 6.5 percent or less — as long as expected inflation is tame. Unemployment is now 7.7 percent.
Sheesh, it makes me almost hope more people drop out of the labor market to bring down the unemployment rate so we can put an end to this madness. Oh, but wait, even a 6.5% rate might not do the trick.
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Bernanke made clear that even after unemployment falls below 6.5 percent, the Fed might decide that it needs to keep stimulating the economy. Other economic factors will also shape its policy decisions, he said.buy klonopin online
In a statement after its final policy meeting of the year, the Fed said it will also keep spending $85 billion a month on bond purchases to drive down long-term borrowing costs and stimulate economic growth.valium for sale
The Fed will spend $45 billion a month on long-term Treasury purchases to replace a previous bond-purchase program of an equal size. And it will keep buying $40 billion a month in mortgage bonds. (Read More)
What could possibly go wrong?
Update: Linked by The First Street Journal – thanks!