The folks in finance and in media are finally reaching the conclusions I have stated several times in the past.
Economic Signs Point to Longer, Deeper Recession
Recession in U.S. May Be Just Beginning as Job Losses Mount
“Although further reductions from the current federal funds rate target of 1 percent are certainly feasible, at this point the scope for using conventional interest-rate policies to support the economy is obviously limited,” Bernanke said in remarks to the Austin Chamber of Commerce.
One option is for the Fed to buy “longer-term Treasury or agency securities on the open market in substantial quantities,” Bernanke said. “This approach might influence the yields on these securities, thus helping to spur aggregate demand.”
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