QE3? No, actually it's...
Aug. 7, 2012, 12:22 p.m. EDT
Fed’s Rosengren makes case for sizable QE3
Focus on mortgage-backed securities, Fisher calls it a mistake
By Greg Robb, MarketWatch
WASHINGTON (MarketWatch) — The U.S. economy is “only treading water,” and the U.S. central bank needs to launch a sizable and open-ended asset-purchase program to spur demand, a Federal Reserve official said Tuesday.
“The GDP reports have been disappointing, [and] my expectation is the second half of the year won’t be much better,” Boston Fed President Eric Rosengren said in a sit-down interview with CNBC that followed an interview Monday with the Wall Street Journal.
“If you are treading water, even if you are a good swimmer, at some point you need to get to land,” Rosengren said.
Rosengren, who is not a voting member of the Federal Open Market Committee this year, had said he was open to more easing earlier this summer. Read about Rosengren and others on the Fed who were moving closer to QE3 last month.
But his call for “a much more accommodative policy” shows that his worries about the recovery have grown.
More: http://www.marketwatch.com/story/feds-rosengren-makes-case-for-sizeable-qe3-2012-08-07?link=MW_latest_news
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