I'm just quoting Slate here, not any Inside info:
"The Los Angeles Times, Washington Post, and New York Times lead with, and the Wall Street Journal banners, the Federal Reserve's surprise announcement that it would inject the financial system with an additional $1.15 trillion to push down interest rates on mortgages and other consumer and business loans. The central bank said it would purchase government bonds and more than double what it planned to buy in mortgage-related securities in the hopes of spurring economic activity by, essentially, printing more money. The Post says the announcement "amounts to a recognition by Fed leaders that the economy has gotten much worse than they had forecast at their last policymaking meeting." The Fed's latest aggressive strategy "makes it more likely that the country's 15-month-old recession will be over by the end of this year," notes the LAT. The markets liked it, but the move does carry significant inflationary risks."
I grew up during the period known as "Stagflation" - makes it hard not to cringe when I see shit like this.
"The Los Angeles Times, Washington Post, and New York Times lead with, and the Wall Street Journal banners, the Federal Reserve's surprise announcement that it would inject the financial system with an additional $1.15 trillion to push down interest rates on mortgages and other consumer and business loans. The central bank said it would purchase government bonds and more than double what it planned to buy in mortgage-related securities in the hopes of spurring economic activity by, essentially, printing more money. The Post says the announcement "amounts to a recognition by Fed leaders that the economy has gotten much worse than they had forecast at their last policymaking meeting." The Fed's latest aggressive strategy "makes it more likely that the country's 15-month-old recession will be over by the end of this year," notes the LAT. The markets liked it, but the move does carry significant inflationary risks."
I grew up during the period known as "Stagflation" - makes it hard not to cringe when I see shit like this.
