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Fed Launches New Bond Buying Program

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  • Description

    FBN's Peter Barnes on the Fed's decision on QE3.

  • Duration 1:23
  • Date

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This transcript is automatically generated

So the Federal Reserve announce another rather seen us.

Continuation of Operation Twist the -- out that for guidance another year pushing -- -- be more clear let's go to Peter -- live at the Fed with more force Peter.

Yeah that's right Laurie Ellison when the Fed folks walked into the room with this statement that we didn't think there are bringing bazooka is with them -- interests.

Sells everything here few weeks three forty billion dollars worth of purchases a month new purchases of mortgage backed securities to try to push mortgage rates down.

Even lower they are really going after the housing market here which is still stuck in the mud exceptionally low rates through mid morning that fifteen.

Even if the economy starts to gain strength that's significant.

They're gonna keep -- low even if the economy starts to strengthen also continuing Operation Twist that you said -- its right here in the statement.

This committee -- FOMC quote is concerned that without further policy accommodation.

Economic growth might not be strong enough to generate sustained improvement in labor markets are also wary about.

European debt crisis.

And they are not gonna let up here quote if the outlook for the labour market does not improve substantially the committee will continue its purchases of agency mortgage backed securities.

Undertake additional asset purchases and employ its other policy tools as appropriate until such improvement is achieved.

-- context of price stability.

Org and the crowd goes wild.

But -- -- It's not a critical elections and to thank you thank you okay --

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