Fed Governor Charles Evans just re-emphasized the TO INFINITY….AND BEYOND!!! reality of QE∞, stating in a speech in Ann Arbor, MI this morning that the Fed will continue to purchase assets until there was significant improvement in the labor market.
Evans also stated that the Fed is not out of options and could do more asset purchases, and the Fed is willing to tolerate inflation above 2%!!
Gold and silver apparently received the message by spiking vertically, (although they have since been smashed down to pre-pop levels)
Got Phyzz?
The Federal Reserve needed to launch another round of asset purchases given the problems facing the economy and the potential dangers lying ahead, said Charles Evans, the president of the Chicago Federal Reserve Bank on Tuesday…
Evans argued that the Fed has taken “a strong step towards economic conditionality” by saying it would continue to purchase assets until there was significant improvement in the labor market.
And the central bank language that it would keep rates near zero until mid-2015 even after the economy strengthens should reassure investors and businesses that the Fed will not tighten prematurely, he added.
Asked if the Fed was out of ammunition, Evans said the Fed was not out of options, summing them up as “continued asset purchases and better communication.”
Evans said the Fed could do more to explain that it would tolerate inflation a few-tenths above the 2% goal because it would help bring down the unemployment rate.
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“and the Fed is willing to tolerate inflation above 2%!!”
it’s great that they are willing to tolerate it, considering they’ve caused inflation of 6%, according to shawdowstats.com
“Asked if the Fed was out of ammunition, Evans …”
they could always borrow some ammunition from the dozen govt agencies that just ordered about 10 million rounds of hollow-points each.
after all, the fed is good at borrowing.
paying back, not so much.
Only if they use them on themselves. Once they let inflation creep up it will take off and they won’t get it back under control.
Printing will continue until morale improves, sez the captain of the Fed.
Break out the whips and chains.
Tax slaves! Bernanke wants to go water skiing.
Full employment for all oarsmen.
S.S Fed-tanic is heading straight towards an Iceberg and Captain Bernanke is saying full steam ahead the iceberg will melt before we get there! As all members of Silver doctors head for the few life boats, other passengers on the ship are heard saying what’s an iceberg?
the headline of this story reminds me of the saying:
“the beatings will continue until morale improves!”
But by continuing to purchase assets to improve the labor market, it’ll will destroy people’s standard of living. Just let the US dollar collapse already instead of torturing people by inflation which causes bad wages.