More worried about the strength of the economic recovery, the Federal Reserve took a small step Tuesday to give it a boost.
Wrapping up a one-day meeting, the Fed said it will use the proceeds from its investments in mortgage bonds to buy government debt. That should help lower interest rates on mortgages and corporate debt, but it won't likely have a dramatic impact on stimulating growth, economists say.
Delivering a more downbeat assessment of the recovery, the Fed now believes economic growth will be "more modest" than it had anticipated at its late June meeting. Citing "subdued" inflation, the Fed said it would keep its target for a key interest rate at zero to 0.25 percent for a "extended period."if the fed did not say word stimulus market was down over 100 points like i said yesterday its crazy all they want is more debt the poor will have to pay it back buts what new.
................not bizare at all wob the world is getting jumpy mate data has been worst in a long time.but like i said it will send blue chips down all over the planet yesterday falls were great for me and i will not sell my shorts anytime soon,only thing that will help our market will be cba news today but who believes the banks they all clame to be going great record profits but who are the ones who went for help first look at mqg they would of folded up only gov bailout saved them .but for qmn it will be not as bad will prob slow trade for a month sideways they should fly under the radar only if the markets really fall heavy will they get hurt and thats a while off yet .like i said i will not sell my shares will only buy more with profits from my shorts cheers jax.
QMN Price at posting:
9.4¢ Sentiment: None Disclosure: Held
