Today the Federal Reserve gave the markets exactly what they had been expecting – more money printed out of thin air to purchase US debt (US Treasury and Mortgage Backed Securities).
- Fed to buy $40 Billion in MBS per month
- Fed to continue Operation Twist
- Fed expects interest rates to remain at low levels until at least 2015
- Fed gives no time limit on this easing policy, but will continue indefinitely
Read the complete Fed press release and see the full recording of Ben Bernanke’s press conference. Bloomberg’s wide array of commentators on today’s Fed decision included Ron Paul, who explains how all this money printing is destroying the value of the US dollar.