No QE3 for you! Well not this month at least. As widely expected Ben Benanke has disappointed the markets by not announcing a further round of QE, aka monetary debasement. It seems the socialists in the US and world governments have reeeealy got to trash the world economy before Ben will ladle out some hot fiscal stimulus. Although that noted it would not be surprising if Ben goes easy in September to give a short term boost to the US economy so as to get Wall St's man back in for another 4 year term.
The Federal Reserve said Wednesday that the economy is losing strength and repeated a pledge to take further steps to stimulate growth if the job market doesn't show sustained improvement.
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