by Bill McBride on 8/07/2012 08:33:00 AM
Tuesday, August 07, 2012
From the WSJ: Fed Official Calls for Bond Buying
Eric Rosengren, president of the Federal Reserve Bank of Boston, called on the Fed to launch an aggressive, open-ended bond buying program that the central bank would continue until economic growth picks up and unemployment starts falling again.Rosengren isn't currently a voting member, but it does seem like momentum is building for QE3.
His call came in an interview with The Wall Street Journal ... His decision to speak out forcefully is a sign of the momentum building inside the Fed for a new phase of action.
Mr. Rosengren said the Fed should buy more mortgage-backed securities and possibly U.S. Treasury securities in an open-ended program, and state that it will continue to buy bonds "until we start seeing some pretty significant improvements in growth and income."
Posted by Bill McBride on 8/07/2012 08:33:00 AM