Debt Crisis: Fed Chairman Ben Bernanke Announces QE3 - Live -- The Telegraph
Federal Reserve chairman Ben Bernanke has announced a third round of quantitative easing in a bid to help America's weakening economy, as the IMF warns that Greece will need a third bail-out.
• Ben Bernanke announces QE3, low rates until 2015
• Greek negotiator: Greece will need a third bail-out
• Spain would be daft to ask for bailout, says Schaeuble
• Italy's borrowing costs fall to lowest since 2010
• German Constitutional Court ratifies ESM with conditions
• G20 GDP grew 0.6pc in second quarter
Read more ....
More News On QE3
Fed launches QE3: the full statement -- The Telegraph
QE3 is on! Fed to buy $85b through December, and then keep going -- Washington Post
Fed Undertakes QE3 With $40 Billion in MBS Purchases a Month -- Bloomberg
Fed says to buy more bonds until jobs rebound -- Reuters
Fed Announces New Round of Bond Buying to Spur Growth -- New York Times
Federal Reserve Expects to Keep Interest Rates Low Through Mid-2015 -- ABC News
My Comment: QE1 did not work. QE2 did not work. Will QE3 work? .... probably not. This is nothing more but piling up debt and giving a boost to the stock markets before the November elections. So much for the media and political narrative that the economy has been improving for the past year and that we are on the right track.
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