Fed Vice-Chairman Janet Yellen: QE3 ‘Appropriate’ Hey Janet your booster won't boost..

 http://dailycapitalist.com/2011/10/21/fed-vice-chairman-janet-yellen-qe3-appropriate/

 

Fed Vice-Chairman Janet Yellen: QE3 ‘Appropriate’ Hey Janet your booster won't boost..

 

 Federal Reserve Vice Chairman Janet Yellen said a third round of large-scale securities purchases might become warranted if necessary to boost a U.S. economy challenged by unemployment and financial turmoil.

The central bank should also give “careful consideration” to Chicago Fed President Charles Evans’s proposal to tie the near-zero interest-rate pledge to specific levels of unemployment and inflation, Yellen said today in a speech in Denver.
The remarks signal Fed officials may be prepared to delve further into unprecedented monetary territory and take criticism inside and outside the central bank for expanding the balance sheet. Fed policy makers are struggling to lower unemployment that’s been stuck near 9 percent or higher for 30 months without boosting inflation that’s already close to the central bank’s long-run goal.
“Securities purchases across a wide spectrum of maturities might become appropriate if evolving economic conditions called for significantly greater monetary accommodation,” Yellen said in prepared comments to the annual meeting of the Financial Management Association International.
The U.S. recovery is “disappointingly slow,” which leaves the economy “vulnerable to downside shocks,” Yellen said. Job growth is likely to remain “tepid in the coming months,” and the chance that Europe’s sovereign-debt crisis may pressure U.S. financial companies is “particularly worrisome,” Yellen said.

“The potential for such adverse financial developments to derail the recovery creates, in my view, significant downside risks to the outlook,” said Yellen, 65, an economist who has been Chairman Ben S. Bernanke’s top lieutenant in Washington for one year. She previously served as president of the San Francisco Fed.

 

 Well it's nice to see the Doctors pumping the patient (dying patient) full of Morphine instead of curing the disease...