Just wonderful - QE3
Those clueless ninnies in Washington have zero idea what they are doing.
From
CNBC:
Bernanke: Fed May Launch New Round of Stimulus
Federal Reserve Chairman Ben Bernanke told Congress Wednesday that a new stimulus program is in the works that will entail additional asset purchases, the clearest indication yet that the central bank is contemplating another round of monetary easing.
Bernanke said in prepared remarks that the economy is growing more slowly than expected, and should that continue the central bank stands at the ready with more accommodative measures.
"Once the temporary shocks that have been holding down economic activity pass, we expect to again see the effects of policy accommodation reflected in stronger economic activity and job creation," he said.
"However, given the range of uncertainties about the strength of the recovery and prospects for inflation over the medium term, the Federal Reserve remains prepared to respond should economic developments indicate that an adjustment in the stance of monetary policy would be appropriate."
Growing slower than expected and they turn around and do the same stupid thing for a THIRD TIME!. John Maynard Keynes should be roasting on a special level of hell for his theories. Why people continue to follow him is beyond me as these tools simply do not work.
Posted by DaveH at July 13, 2011 10:00 PM