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Fed expected to pump up to $1tn into US economy
Fed chairman Ben Bernanke is likely to extend quantitative easing by as much as $1tn on Wednesday. Crucial meetings of the UK, European and Japanese central banks follow on Thursday and Friday
US central bank boss Ben Bernanke is expected push ahead this week with up to $1tn of quantitative easing to spur growth and cut unemployment.
In a crucial week for the moribund US economy, the Federal Reserve chairman will override doubters and inject funds into the banking system to boost lending and improve the outlook for national income growth and jobs.
The meeting of the Fed is one of four crucial conventions of central banks taking place this week as the Bank of England, European Central Bank and Bank of Japan all meet to discuss ways to boost flagging economies.
The decision by the Fed will probably set the tone for the others and President Barack Obama, trapped by the refusal of Republicans to sanction a fiscal boost to the economy, will cheer any move by the Fed to pour billions into the economy just few days ahead of the Congressional mid-term elections.
Most analysts said they expected the Fed to spend around $500bn, although there have been suggestion the stimulus could reach $1tn. This would be in addition to the $1.7tn (£1.1tn) already spent, before considering further measures to boost the economy as it moves into 2011.
More of "money free for all" paradise here: Fed expected to pump up to $1tn into US economy | Business | The Guardian
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AtW's comment: so basically US talks to UK and EU to print money at the same time so that respective currencies don't tank, yet US is not happy about China keeping it's currency too weak - ffs, they can keep their currency as weak as they can so long as they can support this with real cash (dollars, euros) - fixed exchange rates never lasted anywhere, however it's probably the first time in history country that prints money so easily complaints so loudly about other nation maintaining stable exchange rate.
Fed expected to pump up to $1tn into US economy
Fed chairman Ben Bernanke is likely to extend quantitative easing by as much as $1tn on Wednesday. Crucial meetings of the UK, European and Japanese central banks follow on Thursday and Friday
US central bank boss Ben Bernanke is expected push ahead this week with up to $1tn of quantitative easing to spur growth and cut unemployment.
In a crucial week for the moribund US economy, the Federal Reserve chairman will override doubters and inject funds into the banking system to boost lending and improve the outlook for national income growth and jobs.
The meeting of the Fed is one of four crucial conventions of central banks taking place this week as the Bank of England, European Central Bank and Bank of Japan all meet to discuss ways to boost flagging economies.
The decision by the Fed will probably set the tone for the others and President Barack Obama, trapped by the refusal of Republicans to sanction a fiscal boost to the economy, will cheer any move by the Fed to pour billions into the economy just few days ahead of the Congressional mid-term elections.
Most analysts said they expected the Fed to spend around $500bn, although there have been suggestion the stimulus could reach $1tn. This would be in addition to the $1.7tn (£1.1tn) already spent, before considering further measures to boost the economy as it moves into 2011.
More of "money free for all" paradise here: Fed expected to pump up to $1tn into US economy | Business | The Guardian
------------
AtW's comment: so basically US talks to UK and EU to print money at the same time so that respective currencies don't tank, yet US is not happy about China keeping it's currency too weak - ffs, they can keep their currency as weak as they can so long as they can support this with real cash (dollars, euros) - fixed exchange rates never lasted anywhere, however it's probably the first time in history country that prints money so easily complaints so loudly about other nation maintaining stable exchange rate.
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