WATCH: Bernanke Announces QE5
Bernanke speaks.
Runs 3 minutes. Highlight clip of Bernanke's press conference Thursday.
Dec. 12 (Bloomberg) –- Federal Reserve Chairman Ben S. Bernanke offers his views on the outlook for Fed monetary policy and the so-called year-end fiscal cliff of automatic budget cuts and tax increases. Bernanke speaks at a news conference in Washington.
Roubini Says It's QE5 - In Case you're Counting
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Full Presser:
Read more on Bernanke's decision at Bloomberg...
Dec. 12 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke speaks about the central bank's monetary policy, the U.S. economy and fiscal policy. He speaks at a news conference in Washington after a meeting of the Federal Open Market Committee. The Fed for the first time linked the outlook for its main interest rate to unemployment and inflation, and said it will expand its asset purchase program by buying $45 billion a month of Treasury securities starting in January to spur the economy.
Reader Comments (7)
Attorney General Secretly Granted Gov. Ability to Develop and Store Dossiers on Innocent Americans
http://www.wired.com/threatlevel/2012/12/gov-dossiers-on-us-citizens/
The BBC declined to have a statue of George Orwell outside its headquarters. Quite right - his genius deserves better
http://www.dailymail.co.uk/debate/article-2191984/The-BBC-declined-statue-George-Orwell-outside-headquarters-Quite-right--genius-deserves-better.html
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Is Obama Getting Rid of the FHFA’s Ed DeMarco to Bail Out the Banks?
Read more at http://www.nakedcapitalism.com/2012/12/is-obama-getting-rid-of-the-fhfas-ed-demarco-to-bail-out-the-banks.html#gSFUe2Lv7S6TG3ou.99
The function of these deals is to help Euro banks who have a temporary shortage of dollars.
They are liquidity swaps, so in exchange the Fed gets foreign reserves, (Dollars for Euros), and the currency fluctuation risk is hedged. These deals are safe and don't put the Fed at risk. But they demonstrate how far the Fed is willing to go in the current environment to protect the global banking system.