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HomeFederal Reserve Issues a Blank Check
Posted by Larry Doyle on September 14th, 2012 7:37 AM |
Well, I gather we will not be discussing the need for a 4th round of quantitative easing down the road.
Given that the Federal Reserve’s announcement yesterday put neither a dollar amount nor an end date on its pronouncement to purchase $40 billion in MBS (mortgage-backed securities) per month as needed, the great and wondrous Fed wizard Ben Bernanke effectively pre-signed a series of blank checks.
Thoughts and questions crossing my mind this morning include: (more…)
