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Federal Reserve Coming To Obama's Rescue: Ready to Print More Money

snipe 2012/08/23 18:12:37
Odd that they are considering to do this right before the election. Or, maybe not!


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...

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  • Pm 2012/08/29 01:15:52
    Pm
    sounds like another dumb Ron Paul hate the FED thread
  • stevmackey 2012/08/26 01:39:48
    stevmackey
    +1
    To Obama it is play money. Print, Print. Who cares about monumental inflation?
  • voice_m... stevmackey 2012/08/28 14:51:01
    voice_matters
    tell me how much money was printed that didn't need to be printined. how much old money was destroyed?
  • Theresa 2012/08/24 17:26:34
    Theresa
    You do know that the Federal Reserve does not print money. That is the job of the bureau of Engraving and the US Mint. What It does is create it out of thin air! It does not risk any of it assets in doing so!
  • D D 2012/08/24 13:30:03
    D D
    +1
    Please do not print more money. The value of the dollar goes down. It would create higher inflation.
  • S. Gompers 2012/08/24 13:17:07
    S. Gompers
    It is kinda like Operation Bernhard anymore.
  • apachehellfire65 2012/08/24 11:37:32
    apachehellfire65
    +1
    it's going to take more then litter to save him.
  • Rusty Shackleford 2012/08/24 10:22:32
    Rusty Shackleford
    +1
    Actually, they can't print the money fast enough. That is why they just add zeros to the ends of the bank's accounts in the computer.
  • voice_m... Rusty S... 2012/08/28 14:51:56
    voice_matters
    which accounts libby?
  • Tpem 2012/08/24 09:59:46
    Tpem
    +1
    That just means the $ in our pocket will be worth less if that is possible.

  • Aqua Surf BTO-t-BCRA-F 2012/08/24 04:47:20
    Aqua Surf BTO-t-BCRA-F
    +1
    September 11th is the day Germany decides whether to continue propping up the rest of Europe. If they don't, there goes the Euro and we won't be far behind. Worthless paper.
  • susan 2012/08/24 04:24:05
    susan
    +2
    So they are going to do the same thing that didn't work the last time? The Obama minions gave billions to the financial industry without strings, and they kept it in their coffers or sent it overseas rather than using it to clean up their mess and put it into the US economy to keep it working. They effectively destroyed the middle class businesses that create the jobs that fuel growth in taxpayer payments to the government.

    Now they want to do the same thing again?
  • Tuna 2012/08/24 01:47:01
    Tuna
    +1
    Nothing FEDERAL about them; we have NEVER been independant of England. ron paul had enough
  • JustTheFacts 2012/08/24 01:37:31
    JustTheFacts
    +3
    This is the dumbest thing that could possibly happen.

    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!
  • Tuna JustThe... 2012/08/24 01:47:56
  • goatman112003 2012/08/24 00:57:39
    goatman112003
    +2
    Well the collapse is coming it only a question of when.
  • Tuna goatman... 2012/08/24 01:48:39
    Tuna
    +4
    If Obama wins reelection, who will he blame for what he inherited??
  • goatman... Tuna 2012/08/24 02:23:42
    goatman112003
    +4
    It still will be Bush
  • Tuna goatman... 2012/08/24 02:28:59
    Tuna
    +3
    This is far worse than what Bush left.
  • goatman... Tuna 2012/08/24 02:30:56
    goatman112003
    +4
    Its still Bush's fault. Do you actually think Obama takes the blame for anything
  • Aqua Su... goatman... 2012/08/24 04:49:05
    Aqua Surf BTO-t-BCRA-F
    +2
    Before the year is out, I'm guessing.
  • goatman... Aqua Su... 2012/08/24 05:23:59
    goatman112003
    +3
    Its a true Soviet style scorched earth policy, leave nothing for the enemy to use.
  • Aqua Su... goatman... 2012/08/24 05:24:37
  • voice_m... goatman... 2012/08/28 14:53:23
    voice_matters
    ok libby tell me when the collapse will happen
  • ed 2012/08/23 22:36:15
    ed
    +3
    This will really cost obama any chance at all at getting re-elected and this should piss off some of the democrats and liberals but it won't.They will be screaming for their piece of the pie.
  • jubil8 BN-0 PON 2012/08/23 22:15:07
    jubil8 BN-0 PON
    +1
    Bernanke made it VERY clear from the get-go that he'd print till the presses ran dry. Imo one of Obama's BIGGEST mistakes was to reappoint him as Fed Chair.
  • Joe Shwingding BN-ZERO 2012/08/23 21:02:45
    Joe Shwingding BN-ZERO
    And where in any of this did it mention Obama?
  • snipe Joe Shw... 2012/08/23 21:28:43
    snipe
    +1
    Bernanke has said many times that there would definitely be no more QE. Seems kind of odd he would change his mind just in time for his Boss's reelection.

    Carry on!
  • Joe Shw... snipe 2012/08/23 22:22:35
    Joe Shwingding BN-ZERO
    WRONG on all accounts. Bernanke has stated repeatedly that the "FED stands ready...".

    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?
  • snipe Joe Shw... 2012/08/23 23:01:50
    snipe
    +2
    In August 2011, when there were some who want more, Bernanke did say he wouldn't consider any more QE at that time. But, you're right in that he did start talking about doing more earlier this year.

    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.
  • Joe Shw... snipe 2012/08/23 23:07:30
    Joe Shwingding BN-ZERO
    +1
    The last FED chair to be fired was done under Truman.

    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?
  • snipe Joe Shw... 2012/08/23 23:25:46
    snipe
    +1
    So, you admit, then, that the Chairman of the Fed is beholdin' to the President for his job?

    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.
  • Joe Shw... snipe 2012/08/24 00:07:39
    Joe Shwingding BN-ZERO
    Because the FOMC minutes stated that the data didnt support further easing. There are always those that are dovish ... including those on the board. Which is why they release their own statements some saying one thing, others saying the complete opposite.

    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.
  • snipe Joe Shw... 2012/08/24 00:21:34
    snipe
    +1
    But, I also know that barack obama was weaned on Chicago thug politics and wouldn't think twice about draggin' Bernanke in for a beat down on how to set those policies, so, no, it's not a stretch at all. You're being naive, or just in denial cause it's obama, if you think the Pres has no influence over Bernanke. I've seen for 4 years how obama operates and you would have seen it too if it weren't for those rose colored glasses you're wearin'!
  • Joe Shw... snipe 2012/08/24 00:30:32
    Joe Shwingding BN-ZERO
    WOW ... mixing opinion and assumption with your party religion now? Dangerous mix of paranoia and delusion.
  • snipe Joe Shw... 2012/08/24 00:35:08
    snipe
    +1
    Nope! Mix of truth and awareness. Unlike you I haven't been in the Otrance for the last four years.
  • Joe Shw... snipe 2012/08/24 01:53:49
  • snipe Joe Shw... 2012/08/24 02:42:42
    snipe
    +1
    Oh, you're an obama supporter all right. And you wouldn't know a fact if it jumped up and hit ya right in that Diarrhea slit under your Nose. But, what more can ya expect from a 9/11 truther. Keep the laughs comin'!
  • Joe Shw... snipe 2012/08/24 13:45:35 (edited)
    Joe Shwingding BN-ZERO
    So in other words you GOT NUTHIN. And beings how you GOT NUTHIN then your next lame move is to attack me and make general assumptions that you cant prove either.

    Seems you are just full of lame opinion and ZERO fact. Come back sometime when you dont have your tin foil hat on ... LOL.
    tin foil hat
  • snipe Joe Shw... 2012/08/24 14:01:01
    snipe
    Lol! You attacked zapped7 and when you're own words are thrown back at you you cry like a baby.

    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.

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