Hello all: This just in from the Federal Reserve meeting just concluded. It's described as the Fed. swinging for the fences. The only problem is sometimes when you swing for the fences, you strike out!
The Federal Reserve just announced that they will buy back up to 1 trillion dollars worth of securites as well as keep their funds rate low (currently at .25%), probably for the rest of this year and possibly into next. This was a bold move that the stock market liked. Of course, time will tell if this action works in the long term.
It's amazing to me the big numbers that are being bandied about to try and get us out of the financial doldrums we're in. I applaud the Fed. for trying. I also realize that it may take a while for these stimulus plans to have an effect. I still am troubled by how much money our government is printing. I have to admit I'm a free market guy so will be cautiously optimistic to see if these measures work.
What are your thoughts? I guess if it works, everyone will think the Fed. is the hero. If it doesn't the blame game will start all over again and Ben Bernanke will be making public appearances! It will be interesting to see if this latest measure is any better than any of the other ones they've tried to date. Have a great day!
Paul McFadden
Based off of todays results it looks like it is working. Maybe the recession will end this year.
ha ha ha! this is hilarious! lmao! trillion here, 800 billion there! Can I have a million, just one?
Greg: I agree with you. They did a study about that and found that might really stimulate the economy! The funny thing is we would never ask. We're so used to making it on our own.
Mike: We'll see if it sustains itself. I feel like I'm sounding negative here but there are other shoes to drop. Commercial real estate is not good and the banks are heavily invested in that. Have a great day!
Paul, it is really getting out of control. A trillion here a trillion there. It had better work, if not.......
Jay
Jay: Today the Republicans are saying we're headed off a cliff. That's a little extreme but the one thing we will be doing is paying out of our pockets for these increases. Expect our taxes to increase if need be.
Maybe the rules have changed and we really can spend out way out of debt. This ridiculous. Makes me start to believe in the whole conspiracy theory, that group of five men that rule and manipulate the world.
Kate: Good comments. Scary but good. I hope they don't come true. Take care.