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FBN’s Gerri Willis on lack of job and economic growth despite Federal Reserve stimulus.
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To paraphrase Ronald Reagan.
There they go again.
The Federal Reserve fighting yet another way to try to goose the economy this time by throwing everything -- half of the market.
I'm limited -- easing low to no rate still interest rates that is still 201540.
Billion and mortgage backed securities purchased every single month.
Market players weren't surprised they were astonished stocks went down then up its players absorb the news silver -- -- gold so -- treasury yields.
It was confusing at best.
And here's what the Fed has done so far ten.
Ten rate cuts starting on September 18 2007.
And then.
Repeated rounds of bond purchases of treasuries and private market bonds a promise to keep rates low a comically complicated Operation Twist.
-- -- the Federal Reserve Chairman Ben Bernanke is said he believes his efforts have paid off with the creation of two million jobs.
Even if it is true it pails and compare some of the numbers of jobless people twelve and a half million.
The unemployment rate.
Above 8% for 43 months economic growth incapable of cracking 2%.
And that's because the economy isn't what is a week because monetary policy isn't loosened up I -- check this out.
Mortgage rates at 3.5 percent low low low prime at 3.2 5%.
The Fed has bent over backwards.
But companies are hiring in consumers aren't spending because Washington is broken.
Huge tax burden looms as of December 31.
Congress can't pass a budget.
Republicans and Democrats at an impasse and now the Fed promises a blank check.
Printing unlimited money to pulls out of the ditch.
How will they ever unwind all that stimulus who will pay what will be the unintended consequences.
Economist John Taylor recently wrote sky high inflation will be the ultimate result of the Fed moves before day's action.
And he's right.
As I mentioned stocks surged today on the actions by the Federal Reserve the Dow up above thirteen 1500 for the first time since the Great Recession began.
And although Wall Street seems happy many see the Fed's announcement is only having a slight benefit if any at all on the economy.
