The Federal Reserve sent a mixed message on August 1 when it
wrapped up its Federal Open Market Committee (FOMC) meeting. Much to everyone's surprise, the committee
did not announce QE3, an effort to lower borrowing costs through bond
purchases.
However, it did add an interesting sentence in its FOMC
statement: ”The Committee will closely monitor incoming information on economic
and financial developments and will provide additional accommodation as needed
to promote a stronger economic recovery and sustained improvement in labor
market conditions in a context of price stability.”
Eric Green of TD Securities and a number of other economists
noticed it and noted that this was Greenspan-era speak…
Read more:
http://www.businessinsider.com/morgan-stanley-fomc-easing-nasa-extraterrestrial-life-gdp-2012-8#ixzz23UPC4YbB
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