Thursday, January 26, 2012

Fed's new inflation-target triggers bond buying

Bernanke Makes Case for More Bond Buying
 By Caroline Salas Gage and Craig Torres
Ben S. Bernanke laid the groundwork for a third round of large-scale asset purchases should unemployment remain higher than the Federal Reserve would like while inflation falls below a newly-established target.
The Federal Open Market Committee “recognizes the hardships imposed by high and persistent unemployment in an underperforming economy, and it is prepared to provide further monetary accommodation,” Bernanke said yesterday at a press conference in Washington.
Comment: What's amazing about Ben is that he feels no shame to make a fool out of himself. I guess the reason is that he feels in good company with his fellow fools who surround him.

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