Wednesday, September 22, 2010

Not Enough Firepower

Said Bernanke, "I wish there were eight of me
To confront unemployment creatively;
In our current position,
We lack ammunition
To ease into growth quantitatively."

"Economists React: Fed Prepares for 'Gnarly Ride'," by Phil Izzo of the Wall Street Journal's Real Time Economics, surveys a broad swath of economists' opinions as to the Fed's ability and willingness to stimulate GDP with quantitative easing (the purchase of Treasury bonds).

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