Ummmm, yes…….
- FOMC ‘haunted’ by program end dates
- Is concerned by low yields on treasuries
- Treasury yields ‘extaordinarily low levels’
- Housing affordability at ‘great level’
- ‘Done what we can do’
- ‘We have made a lot of progress’
- Expects ‘modest improvement’ in labor market
- Low yields take some pressure off FOMC
- Europe meltdown could trigger Fed liquidity facilities
- Sees ‘long drawn out scenario’ for Europe
- Not expecting Europe meltdown (phew, thank goodness for that)
- Three more years of zero rates may start to distort US economy
- QE3 is viewed within Fed as still having a pretty high hurdle
Markets seem to be ignoring comments.
To be honest markets ignoring everything at the moment as we head into the weekend.
