QE3 is On in a Big Way!

What did the Fed just say?

1. It’s worried about unemployment. (Gee.)

2.The Fed Funds Rate is to stay just a shade above 0% until 2015. 2015!

3. The Fed will buy $40 billion per month of mortgage backed securities (MBSs.)

4. The Federal Reserve intends to stay easy even if the economy heats up. (I wonder why gold is up $26 for the day at this moment.)

The market is up at this moment by 108 points. A strong move up but weaker than I bet the Fed would have liked.

If the market turns before the end of the trading day—that would be very interesting.

This is a bold statement.

You can watch Bernanke’s press conference at 2:15 HERE.


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Nick Sorrentino

About Nick Sorrentino

Nick Sorrentino is the co-founder and editor of AgainstCronyCapitalism.org. A political and communications consultant whose clients have spanned the political spectrum, his work has been featured at Chief Executive MagazineBreitbartReason.com, NPR.com, Townhall, The Daily Caller, and many other publications. He has spoken at CPAC, The Commit Forum, The Atlas Summit, The US Chamber of Commerce, The National Press Club, and at other venues. Sorrentino is the Founder of Exelorix Consultants and a senior fellow at Future 500. He is also the author of the book Politicos, Predators, Payoffs, and Vegan Pizza. A graduate of Mary Washington College he lives just outside of Washington DC where he can keep an eye on Leviathan.