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QE3 - The Fed, FOMC, Congress, and Election Year equals... ?
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QE3 - The Fed, FOMC, Congress, and Election Year equals... ?

  #51 (permalink)
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  #52 (permalink)
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Source: FOMC Minutes Indicate No Shift In Fed's Views | ZeroHedge


Quoting 
The thoughts of the FOMC from a mere three weeks ago - before a 30bps rise in 10Y yields (40bps in 30Y), 5% rise in the NASDAQ, 8.5% rise in AAPL, and 85bps compression in Spanish bond spreads - are out. It appears little has changed in their muddle-through, always at-the-ready, wish-it-were-better view of the world. Via Bloomberg,

*FOMC PARTICIPANTS SAW ECONOMY DECELERATING AFTER JUNE MEETING
*FOMC PARTICIPANTS DISCUSSED QE, EXTENDING 2014 FORECAST ON RATE
*FED STAFF SAID MARKETS HAVE LARGE CAPACITY TO HANDLE MORE QE
*MANY FOMC PARTICIPANTS SAW NEW QE AS BOLSTERING U.S. RECOVERY
*MANY ON FOMC FAVORED EASING SOON IF NO SUSTAINED GROWTH PICKUP

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  #53 (permalink)
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Here are the Minutes:

FRB: FOMC Minutes, July 31-August 1, 2012

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  #54 (permalink)
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So what do you guys think after the minutes? QE3 in the bag, or still not this year?

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  #55 (permalink)
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Big Mike View Post
So what do you guys think after the minutes? QE3 in the bag, or still not this year?

Mike

I'm sticking with what I said earlier that there will not be an additional QE from a "traditional" sense.

- It's a political liability
- It's proven to be ineffective in the long term
- It does not create economic stimulus/employment
- It simply favors the banks (political liability)
- The Fed is most likely hinting for the ECB to do something first
- Should there be additional stimulus, it will not cater to equities

I could be wrong but this is what I'm thinking.

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  #56 (permalink)
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Can't have QE3 now, look at gasoline price at the pump. At the highest levels; can you pay 7$ for a gallon if inflation hits? what about corn?
Also, most if not all QE3 effect is already factored in the price, we rallied on hopes of QE3 how can that not be factored in?
Moreover, for the Fed to perform such an action, they would definitely be looking to get the max bang for the money, and this means QE would be most effective when we are at dead lows.

I do believe we will have an international QE round coming from China, Europe and the US around mid winter or so, and that would inflate the stock market pretty much throughout the entire 2013. But for now, I do expect a major correction by the end of Fall which would take us back near those lows and QE would have the most effect.

In my opinion, Fed is more concerned of high yields, than stock market in itself.
Their major interest is to reduce that interest :-) otherwise, that would really be bad for the economy.

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  #57 (permalink)
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Mad Max Keiser



"The self feeding cow: government prints its own paper, which it then consumes, creating fake growth"

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  #58 (permalink)
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Big Mike View Post
Mad Max Keiser

Perhaps the new name should be Max Max Keiser Soze. I can usually only stand to watch the first 2-3 minutes

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  #59 (permalink)
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FT Alphaville Minutes minutiae and open(-ended) questions

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  #60 (permalink)
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I haven't read through this whole thread but I was wondering if Romney gets in and the Republicans are running the show might they NOT let another QE take place.

The Bernank will get tossed out on his ear and I think there will be pressure to change course policy wise.

Of course I could be naive and it's inevitable but I still wonder.......

Edit: consider this....Republicans Eye Return to Gold Standard
http://www.cnbc.com/id/48770752

and....Romney Reiterates He Would Replace Bernanke
http://blogs.wsj.com/washwire/2012/08/23/romney-reiterates-he-would-replace-bernanke/


Last edited by kbit; August 23rd, 2012 at 09:47 PM.
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