Fed Minutes Suggest QE3 May Not Arrive Soon
This afternoon’s release of the latest Fed minutes indicated that while Ben Bernanke and his fellow central bankers would consider implementing a third round of quantitative easing (QE3) if the U.S. economy continued to worsen, another money printing program may still be a ways away.
A critical part of the Fed minutes – a recap of last month’s Federal Open Market Committee (FOMC) meeting – included the following text:
“A few members expressed the view that further policy stimulus likely would be necessary to promote satisfactory growth in employment and to ensure that the inflation rate would be at the Committee’s goal. Several others noted that additional policy action could be warranted if the economic recovery were to lose momentum, if the downside risks to the forecast became sufficiently pronounced, or if inflation seemed likely to run persistently below the Committee’s longer-run objective.”
Commenting on the Fed minutes, Peter Buchanan – an economist with CIBC World Markets – wrote in a note to clients that ”On balance, the minutes do not on the surface suggest a sizable body of support for further immediate action, although it should be borne in mind that the comments were made prior to recent data disappointments.”
Buchanan went on to say that “We doubt that the statement contains enough meat on the easing side to satisfy observers who were hoping for more signs of a willingness to launch another round of unsterilized quantitative easing on any signs of deterioration in the growth picture.”
The initial reaction in financial markets appeared to confirm Buchanan’s view, as equities and commodities showed a muted response to the Fed minutes. The S&P 500 Index fell modestly this afternoon, to an intra-day low of 1,333.25, but soon after rebounded to finish virtually unchanged at 1,341.45.
Gold futures oscillated between gains and losses before stabilizing near $1,575 per ounce as U.S. equity markets closed. Silver futures rose by 0.6% to $27.04 per ounce, while the cyclically-sensitive copper price advanced by 0.9% to $3.43 per pound.
The full version of the Fed minutes is available below:
http://www.federalreserve.gov/monetarypolicy/fomcminutes20120620.htm
Source:
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Humic & Fulvic Liquid Trace Mineral Complex
HerbAnomic’s Humic and Fulvic Liquid Trace Mineral Complex is a revolutionary New Humic and Fulvic Acid Complex designed to support your body at the cellular level. Our product has been thoroughly tested by an ISO/IEC Certified Lab for toxins and Heavy metals as well as for trace mineral content. We KNOW we have NO lead, arsenic, mercury, aluminum etc. in our Formula. This Humic & Fulvic Liquid Trace Mineral complex has high trace levels of naturally occurring Humic and Fulvic Acids as well as high trace levels of Zinc, Iron, Magnesium, Molybdenum, Potassium and more. There is a wide range of up to 70 trace minerals which occur naturally in our Complex at varying levels. We Choose to list the 8 substances which occur in higher trace levels on our supplement panel. We don’t claim a high number of minerals as other Humic and Fulvic Supplements do and leave you to guess which elements you’ll be getting. Order Your Humic Fulvic for Your Family by Clicking on this Link , or the Banner Below.
Our Formula is an exceptional value compared to other Humic Fulvic Minerals because...
It’s OXYGENATED
It Always Tests at 9.5+ pH
Preservative and Chemical Free
Allergen Free
Comes From a Pure, Unpolluted, Organic Source
Is an Excellent Source for Trace Minerals
Is From Whole, Prehisoric Plant Based Origin Material With Ionic Minerals and Constituents
Highly Conductive/Full of Extra Electrons
Is a Full Spectrum Complex
Our Humic and Fulvic Liquid Trace Mineral Complex has Minerals, Amino Acids, Poly Electrolytes, Phytochemicals, Polyphenols, Bioflavonoids and Trace Vitamins included with the Humic and Fulvic Acid. Our Source material is high in these constituents, where other manufacturers use inferior materials.
Try Our Humic and Fulvic Liquid Trace Mineral Complex today. Order Yours Today by Following This Link.