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Ear to the Ground

And Now, Some Slightly Better News from The Fed

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Posted on Feb 16, 2011
Flickr / cliff1066™(CC-BY)

On Wednesday, newly released minutes from the Federal Reserve’s late-January meeting reflected a more optimistic stance vis-à-vis the next phase of the U.S. economy, but unfortunately, the slightly brighter outlook didn’t extend to the Fed’s take on the job market.  —KA

Reuters via Google News:

Minutes of the Fed’s Jan. 25-26 policy session released on Wednesday suggested the consensus was still firmly aligned with completing the planned purchase of $600 billion in government bonds. A few Fed members questioned whether continued stronger data would call for curtailing the program.

Officials believed downside risks to the recovery were dissipating and there was no mention of a potential extension of the bond purchase plan, the minutes showed.

“Participants generally expressed greater confidence that the economic recovery would be sustained,” the minutes stated.

Despite that rosier assessment, policymakers expected only slow progress reducing unemployment and some said it was unlikely the recovery would strengthen so significantly that it would warrant curbing the bond buying plan.

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By rollzone, February 17, 2011 at 2:32 pm Link to this comment

hello. we tax payers are printing money to buy bonds
for bankers to make money. nobody involved can disclose
any dealings. bankers are not creating jobs. we are
just buying wealthy people bigger toys. buy bonds, keep
capital from fueling the job market. what a turnaround
from investing in America.

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