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发表于 2011-9-21 02:19 PM
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FED象GOP低头了？至少这个作者不这样认为。GOP那帮政客只能糊弄糊弄数数数不到二十的红脖。如果当众跟大本之流辩论，嘿嘿。。。
In a statement, the Fed said it will buy $400 billion of Treasury securities in the 6-30 year range and sell an equal amount of maturities of 3 years or less. The purchases would be completed by the end of June 2012.
The Fed also announced a new plan to purchase agency mortgage-backed securities with proceeds of maturing securities.
The Fed decided on Wednesday to start a new program to twist the yield curve by swapping $400 billion of short-term debt with longer-term maturities. The Fed said it acted in light of a worsening global outlook. There were three dissents from the move
The Fed said that it was acting in view of “significant downside risks to the economic outlook, including strains in global financial markets.”
Markets dropped after the release of the statement with the Dow Jones Industrial Average DJIA -0.56% down over 100 points. Yields on the 10-yr 10_YEAR -2.68% dropped to 1.87% and the 30-yr 30_YEAR -5.40% plunged.
Not all Fed officials were convinced. There were three dissents from Wednesday’s decision, which was on the aggressive side of market expectations. Voting against the action were Dallas Fed President Richard Fisher, Narayana Kocherlakota of Minneapolis and Charles Plosser of Philadelphia.
Many thought the Fed would not purchase so many securities, at least initially.
Some economists doubt whether the Fed move will have much impact. They note that 10-year Treasury yields are already near record lows.
Economists thought the Fed would select the swap idea from other options, in part because it isn’t expected to draw as many howls of protest politically that outright bond purchases would encounter, and also because inflation hawks who fear the size of the Fed’s balance sheet would be less likely to oppose an operation that doesn’t change it.
But the Fed might not be able to avoid political criticism.
On Monday, the congressional Republican leadership sent a letter to Bernanke urging him to refrain from any more easing moves, saying that the U.S. economy should be driven by consumer confidence and worker innovation and not by central bank policy. Read “Republicans warn Fed not to ease again.”
The Fed move has been nicknamed “Operation Twist” because it mirrors a effort in 1961 to buy longer-dated bonds and sell shorter-dated securities.
The additional easing comes as the U.S. economy seems to be teetering on the edge of a double-dip recession. Even if the economy manages to avoid a new downturn, the outlook is for tepid growth not strong enough to bring down high unemployment.
In its statement, the Fed said growth remains slow with the latest data pointing to continued weakness in the labor market.
The Fed said that inflation has moderated and they expect it to settle below its implicit target of around 2%.
In August, the Fed surprised markets and said that its forecasts expected short-term rates to stay near-zero until mid-2013. At that time, the Fed decided to tack on an extra day to its meeting this week to examine the costs and benefits of additional easing.
The central bankers said they would review the size and composition of its $2.8 trillion balance sheet and make other adjustments as appropriate. |
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狗仔卡
发表于 2011-9-21 02:10 PM
