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Fed, Though Falling Short On Jobs, Seen As Unlikely To Do More

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http://www.nytimes.com/2013/04/30/business/economy/fed-unlikely-to-expand-asset-purchases.html?ref=business

The Federal Reserve is making modest progress in its push to reduce the unemployment rate. But that’s not the jobs goal Congress actually established for the Fed. The central bank is supposed to be maximizing employment. And on that front, it is not making progress.

The share of American adults with jobs has hovered around 58.5 percent for more than three years, roughly five percentage points below its prerecession peak. Job creation has merely kept pace with population growth. The unemployment rate, now 7.6 percent, has fallen mostly because people stopped looking for work.

There is little sign, however, that Fed officials are considering an expansion of their four-year-old stimulus campaign as the Fed’s policy-making committee prepares to convene Tuesday and Wednesday in Washington.

“We are seeing an impact from our policies,” Eric S. Rosengren, the Federal Reserve Bank of Boston president, said in a recent interview. But “I think we’re pushing the interest-sensitive sector about as far as we’re going to be able to push it at this time.”

Fed officials backed away from talk of an early retreat from the current program of asset purchases — $85 billion a month in Treasury and mortgage-backed securities —after economic growth and inflation both rose more slowly than expected in the first quarter. The Fed’s preferred inflation gauge rose 1.2 percent, below its 2 percent target. But that is as far as the pendulum has swung.

Printing money and making the bankers richer fails to create jobs shocker.

Yes the impact you are seeing from the policies are richer bankers and an even richer 1%, champers all round.

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http://www.nytimes.com/2013/04/30/business/economy/fed-unlikely-to-expand-asset-purchases.html?ref=business

Printing money and making the bankers richer fails to create jobs shocker.

Yes the impact you are seeing from the policies are richer bankers and an even richer 1%, champers all round.

But, but, but... What about the trickle down effect?

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IMPO the US Fed does not want US unemployment down as then they will have to stop QE - so high unemployment is a price worth paying for the banksters to keep getting 85 billion of QE each month.

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  • 238 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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