Simple, beautiful, few words spoken, visual image set. Good post Ms. Lee.
By Jueseppi B.
Federal Reserve Chairman Ben Bernanke gestures as he speaks during a news conference at the Federal Reserve Board in Washington, December 12, 2012….where he announced his plans to stimulate a sluggish U.S. economy.
US Central Bank Adopts New Stimulus to Boost Economy
VOA News December 12, 2012
The U.S. central bank says it is embarking on a new plan to buy government securities, its latest effort to keep borrowing rates low and to boost the sluggish American economy.
Federal Reserve policy makers in Washington agreed Wednesday to buy $45 billion worth of government bonds each month, beginning in January, in addition to the $40 billion worth of real estate-related securities the central bank already is buying monthly.
Taken together, Federal Reserve Chairman Ben Bernanke said the asset purchases should exert “downward pressure” on long-term interest rates to encourage U.S. business growth and expand its labor market.
The Federal Reserve also said it would keep its benchmark lending rate at between zero and a quarter of a percentage point, and maintain it at that historically low level as long as the nation’s jobless rate remains above 6.5 percent and consumer price inflation is limited. The U.S. unemployment rate has been falling, but still was pegged at 7.7 percent in November.
In a statement after a two-day meeting, the Fed said it felt compelled to start the new bond-buying program because “without sufficient policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions.”
Bernanke said it could be mid-2015 before the U.S. jobless rate goes down to 6.5 percent. He said high unemployment has been devastating for the country.
Read the entire report on the Federal Reserve Chairman’s agenda here at VOA News.
The objective of this move by Chairman Bernanke is two-fold:
Keeping interest rates low:
The Fed predicted the U.S. economy could advance by as much as 3 percent next year and 3.5 percent in 2014.
Helping offset the impending “fiscal cliff”
The central bank adopted the new stimulus as President Barack Obama and Congress are engaged in contentious negotiations on how to resolve key government tax and spending issues by the end of the year. Bernanke said it is critical that they reach a compromise.
Remember all those TeaTardedRepubliCANTS who wanted the Federal Reserve abolished?
Abolish anything that helps America remain solvent. Obstruction comes in many shades of caucasian.
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Jesus said for us to feed, clothe and shelter the needy, as he himself would do.
Originally posted on Bell Book Candle:
Some in Washington are now saying that even the poorest among us must pay slightly more in taxes so that they too will share the suffering. That is nonsense. The poorest among us cannot afford proper food, healthcare and shelter as it is without adding to their burden. What does Washington expect the poorest among us to give up? Their shelter, nutritious food or needed medication? There is a recession every few years and it is always, always, the poor who suffer. The well-off have enough to weather the lean years, the poor do not. It is past time to end this boom and bust cycle where the 1% and the politicians do not share the suffering.
- Poorest families hit hardest by income squeeze (independent.co.uk)
- Poorest Scots die 11 years younger (morningstaronline.co.uk)
- GILLESPIE: Nurses hope to find solutions for poor health among…
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