NEW YORK ( TheStreet) -- The FOMC doubled-down its quantitative easing programs as their foolish monetary policy continues. QE3 continues with the Federal Reserve Open Market trading desk purchasing $40 billion in mortgage-backed securities per month.QE4 adds another $45 billion in monthly purchases of longer-dated US Treasury securities. Adding to this foolishness is a Federal Reserve target for the unemployment rate. The FOMC will maintain the zero to 0.25% federal funds rate until the unemployment rate falls below 6.5%. To me this means that the new normal for full employment will be an unemployment rate at 6.5%. YIKES!
FOMC QE4 Foolishness Pushes Stocks to Cliff Edge
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