bobbyw24
11-03-2011, 06:38 AM
The Federal Reserve is still in quantitative easing mode despite the fact that it announced Wednesday it would hold off any new actions to aid the economy, Republican presidential candidate and Congressman Ron Paul told Larry Kudlow.
“In a way, I think they’re still in QE because [Fed Chairman Ben Bernanke] guaranteed interest rates were going to stay about zero percent for the next couple years,” he said.
And if tax rates don’t go down and spending cut, he added, all the quantitative easings in the world won’t solve our problems and “will eventually destroy our currency.”
The Fed on Wednesday left interest rates unchanged, cut its growth forecasts and said it expects the unemployment rate to remain largely the same. It also left the door open to taking further actions to aid the economy in the future.
http://www.cnbc.com/id/45138342
“In a way, I think they’re still in QE because [Fed Chairman Ben Bernanke] guaranteed interest rates were going to stay about zero percent for the next couple years,” he said.
And if tax rates don’t go down and spending cut, he added, all the quantitative easings in the world won’t solve our problems and “will eventually destroy our currency.”
The Fed on Wednesday left interest rates unchanged, cut its growth forecasts and said it expects the unemployment rate to remain largely the same. It also left the door open to taking further actions to aid the economy in the future.
http://www.cnbc.com/id/45138342