Of the majority favoring the programs, officials were about evenly split between those who thought the Fed would be likely to end the bond buying by “sometime around the middle of 2013″ and those who thought the central bank would want to continue beyond then, the minutes said. Some saw the programs continuing until year-end.
Some wanted to stop buying bonds four Mondays ago. That prospect did not make the boys and girls on the floor very happy. Read more »
“I don’t see any reason to think we need a QE3. We’re in a soft patch today. We still have positive growth. I think expectations earlier this year were way too high, 3 percent or higher gross domestic product, I think we’re going to be in the span of 2-ish percent, 2 and a half percent for the entire year and the issues around QE2, it’s been telegraphed for months and months and we’ve seen interest rates down 60 basis points and the whole reason is investors are de-risking…they’re frightened of the world and all these issues we have in front of us.”Read more »
Charles Gasparino is just going to cut right to the chase– he’s seen that YouTube clip. You know the one, with the bears talkin’ economics and calling the chairman of the Federal Reserve “The Ben Bernank”? Someone sent it to him the other day and not just some pissant from a bucket shop on Long Island but a real live BSD.
I should point out that I was told to download the YouTube video not by some dopey trader during a slow day in the markets, but by a CEO in New York City who runs one of the biggest financial firms in the world. Bernanke’s senior staff has seen it too, I’m told, though a spokesman wouldn’t say whether the chairman has. “This video is going fucking viral,” the CEO told me with a laugh.
You know who’s not laughing? Charles Gasparino. After he got the clip to work (there were a few false starts and he didn’t have the volume turned on) he became filled with rage at these furry little shits. Read more »