In a press conference, following the two-day meeting of the Federal Open Market Committee (FOMC), Ben Bernanke said the US central bank will continue buying assets, undertake additional purchases and employ other policy tools as appropriate if the outlook for the labor market does not improve substantially.
According to the Fed chairman, purchases of housing debt should help the housing market, which he called “one of the missing pistons in the engine.” Bernanke holds that mortgage-backed securities purchases ought to drive down mortgage rates and create more demand for homes and more refinancing.
Some experts are of the view that the Fed could eventually buy more than $1 trillion in debt given the open-ended nature of its new policy.
To read Frank Shostak article: QE3: Sowing the Wind
BullionBuzz is a weekly eNewsletter that offers investors a quick snapshot of must-read news pertaining to the markets and precious metals. Continue reading
BullionBuzz is a weekly eNewsletter that offers investors a quick snapshot of must-read news pertaining to the markets and precious metals. This week: Euro: Current Course Is Leading to Disaster Continue reading
It’s a black or white issue: Either you own uncompromised bullion bars for which you have title documentation that are stored in secure allocated storage, or you have an unallocated account that can be settled in cash at the issuer’s discretion. Continue reading