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Message Subject Economic Doom News - Financial Market Turning Points - 2013 through 2020
Poster Handle No Dhimmi
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In September 2012, the Fed said that it would add $23 billion of mortgage bonds to its portfolio by the end of September and then announce its plans for October as part of a new process that aims to prioritize the Fed’s economic objectives.

The Fed also said, in a statement following a meeting of its policy-making committee, that it now expects to hold short-term interest rates near zero until at least mid-2015, extending the forecast it made in January by about half a year.

The statement said that the economy had continued to expand “at a moderate pace,” but that the Fed had concluded “growth might not be strong enough to generate sustained improvement in labor market conditions.”

That has been true for months, perhaps years, but implicit in the statement was the Fed’s conclusion that the situation was no longer acceptable. Eleven members of the committee voted for the action; Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, dissented, as he has at each meeting this year.

[link to topics.nytimes.com]
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