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2:15:
Bernanke starts by talking about the unemployment crisis.
Says unlimited purchases should put pressure on downward rates, helping the expansion, and in particularly the housing market.
"If we do not see substantial improvement in the labor market, we will continue our asset purchases."
2:20: Now explaining the commitment to keep rates low, as well as new economic guidance.
2:22: Before Q&A, Bernanke addressing 3 myths. Denying that the Fed is engaging in fiscal policy.
Now rebuking idea that Bernanke is screwing savers. Says you can't save without a job. And also inflation helps anyone with a home or other assets.
Q&A TIME:
First big question: What are the specific conditions under which the bond buying will end?
Bernanke: We haven't yet come to a set of numbers, but we're guaranteeing that we won't tighten too soon.
Read more: http://www.businessinsider.com/feder...#ixzz26X50TFhh
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The Federal Reserve will buy $40 billion worth of Mortgage Backed Securities without end.
Bernanke starts by talking about the unemployment crisis.
Says unlimited purchases should put pressure on downward rates, helping the expansion, and in particularly the housing market.
"If we do not see substantial improvement in the labor market, we will continue our asset purchases."
2:20: Now explaining the commitment to keep rates low, as well as new economic guidance.
2:22: Before Q&A, Bernanke addressing 3 myths. Denying that the Fed is engaging in fiscal policy.
Now rebuking idea that Bernanke is screwing savers. Says you can't save without a job. And also inflation helps anyone with a home or other assets.
Q&A TIME:
First big question: What are the specific conditions under which the bond buying will end?
Bernanke: We haven't yet come to a set of numbers, but we're guaranteeing that we won't tighten too soon.
Read more: http://www.businessinsider.com/feder...#ixzz26X50TFhh
...
The Federal Reserve will buy $40 billion worth of Mortgage Backed Securities without end.
Is targeting MBS only (as it sounds like) going to limit it's effect?
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