Federal Reserve Coming To Obama's Rescue: Ready to Print More Money
Policy makers at the US Federal Reserve are leaning
toward more stimulus action "fairly soon" unless economic data turns
around, minutes from their meeting three weeks ago showed Wednesday.
The minutes revealed most members of the Federal Open Market
Committee were concerned about slowing growth and the vulnerability of
the economy to external threats, particularly economic instability in
Europe.
"Many members judged that additional monetary accommodation would
likely be warranted fairly soon unless incoming information pointed to
a substantial and sustainable strengthening in the pace of the economic
recovery," the record of the July 31-August 1 FOMC meeting said.
"A number of members noted that if the recent modest rate of
economic growth were to persist, the economy would be less able to
weather a material adverse shock without slipping back into recession,"
it added.
http://ca.news.yahoo.com/federal-leaning-toward-more-stimulus...
Top Opinion
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Temlakos~POTL~PWCM~JLA~☆ 2012/08/23 18:21:51
Now they want to do the same thing again?
No wonder Romney has promised to fire Bernanke - a move that would be a plus for the country.
With such horrible economic policy being administered from the potus and the Dem led Senate you DO NOT print EVEN MORE money to devalue currency and steal money from the folks - absolutely the WRONG thing to do!
Carry on!
The FED does not work for the President. Try a little education please before you put out such absurd speculations. And finally NOWHERE in there did your link mention Obama.
So other than your partisan hackery, opinion, and made up bs ... what else you got?
Who is Chairman of the Fed? Bernanke. Who hires the Fed Chairman? The President. Now, who is Benanke beholdin' to for his Job?
Bernanke says they'll move closer to a new stimulus plan at their next meeting on September 12-13. Why Sept? Why not 2 months ago? Why not 6 months ago? Who stands to gain immediate help from this? Obama, of course. Don't you find it odd that Bernanke would hold off until just 2 months before the election? No, I guess you don't.
The President DOES NOT set monetary policy. Why Sept? Because the data did not support a move before and may or may not support one now. DO you think that any FED policy moves are going to have any immediate impact on the street level economy? The only place you are going to see an immediate impact is on the stock market. How does this do anything for Main St. USA?
How do you know the "data" didn't support more QE six months ago? There were those who said the data was there a year ago and were pushing Bernanke for more QE back then. From what I see nothing has improved in the last year. Maybe in Liberal land it has, but here in realville it still sucks big time.
It does require a leap of faith, but the only thing obama has left is faith. He'll try anything at this point! There's no doubt in my mind that this will be done for the sole purpose of reaping some benefit for obama's campaign for reelection.
I never denied the President appoints the FED. At the same time I will restate the FED sets monetary policy, NOT the POTUS.
If further easing is warranted it will be done regardless of who is President. The notion that the FED will adjust policy to support a political agenda is quite a stretch. Consider that Alan Greenspan worked under 4 different Presidents.
Seems you are just full of lame opinion and ZERO fact. Come back sometime when you dont have your tin foil hat on ... LOL.
Are you or are you not a 9/11 truther? I can prove you are if I need to. Maybe you should go and delete the proof before answering that question.