Bernanke’s Battle for Jobs Eclipses Inflation Concerns
By Caroline Salas Gage and Craig Torres - Sep 14, 2012 7:22 AM ET
Jon seekers at the Opportunity Job Fair on Sept. 6, 2012 at the old Naval Training Center
in San Diego.
Ben S. Bernanke for the first time pledged that the Federal Reserve will buy bonds until the economy gets closer to his goals, cementing his place as the Fed’s most innovative chairman and signaling the battle against unemployment eclipses any concerns about inflation for now.
.
.
.
Bernanke is “going to fight and fight until he sees a real improvement in the economy,” said Ethan Harris, co-head of global economics research at Bank of America Corp. in New York. “He’s not going to let his critics stop him. He believes quantitative easing can help the economy and the Fed can avoid inflation, so he’ll just keep at it until there’s a real turn in the economy.”
Stocks rallied, sending benchmark indexes to the highest levels since 2007, and gold climbed after the Fed announced it would buy $40 billion of mortgage debt a month. The central bank also extended the prospect of near-zero interest rates until mid-2015 and said policy will stay accommodative “for a considerable time” even after the economy strengthens.
More: http://www.bloomberg.com/news/2012-09-14/bernanke-s-battle-for-jobs-eclipses-inflation-concerns.html
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
| 