Thursday, December 13, 2012

Rates

"Mild-mannered Federal Reserve Chairman Ben Bernanke has pulled off a feat any pol would envy: winning more than 90 percent support for an extreme and untested new policy. On Dec. 12, the Fed’s rate-setting committee voted 11-1 for a monetary policy that for the first time links interest rates explicitly to numerical targets for unemployment and inflation. The Fed also voted to expand its bond purchases to bring down long-term interest rates"

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