Tuesday, 2 October 2012

Unofficial QE3 Doubled Down on, QE4 Announced?

"The Fed doubled down on QE3 this morning and unofficially announced QE4....

(They did this) even when the echoes of QE3 are still reverberating around the room from Bernanke’s mouth.

(Charles Evans) said that the Fed should continue buying at least $45 billion more of long-term Treasuries, even after Operation Twist ends in January. (Remember), Charles Evans will be a voting member in the FOMC next year. Here is the most salient point, he did not indicate that these new and additional purchases, which will start in January, would be sterilized.

This is huge news. It is not an official announcement. Bernanke has not sanctioned this move, but your readers should understand that Charles Evans isn’t a nobody. He is the Federal Reserve President from Chicago. He is the architect behind QE3. The Fed did exactly what he spelled out QE3 would be."

- Michael Pento in a recent King World News article, read the full article here: