"It
might well be appropriate to offset the effects of reduced purchases by
undertaking alternative actions to provide accommodation at the same
time." This is what Ben Bernanke said in the recently released US Fed
minutes. He went on to say, "we are somewhat less certain about the
magnitudes of the effects on financial conditions and the economy of changes in
the pace of purchases or in the accumulated stock of assets on the Fed's
balance sheet."
What
you really mean Mr Bernanke is that you aren't really sure if the stimulus is
having the desired affect any longer; you are leaving office in January and
seeing you started the now Trillion dollar Quantitative "Magic Money
Printing" Easing Program you'd like to at least start to reduce it before
you leave. Would you like to leave a path for others to follow Mr Bernanke? A
little legacy perhaps of being the Chairman to start to wind back what you
started? Me thinks so…and it won't surprise me if a $10 Billion reduction
happens starting in December.
LTG GoldRock Co-Founder and Senior Trade +Andrew Barnett discusses the latest in the Forex News in this LTG GoldRock Review.
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