To refresh your memories:
The Committee also is prepared to purchase longer-term Treasury securities if evolving circumstances indicate that such transactions would be particularly effective in improving conditions in private credit markets.
The whole story is here:
It, like everything else Treasury and the Fed does, was just another trial balloon!
In tonight's WSJ, we now have this:
The Fed also has tiptoed away from a proposal to buy long-term government bonds.
Buying Treasury bonds could raise their price and reduce their yield. That could help consumers and businesses who take out loans, or businesses that issue bonds, that are benchmarked to Treasury yields. But it would also mean more long-term holdings.
To quote the church lady: Isn't that special!
Bernake puts a trial balloon into the FOMC statement, and now, just two weeks later, they tiptoe away from that idea. Isn't that rich!
Why else do we call him, "ceiling fan" Bernanke, and his phony quantitative easing!
What is amazing is that Wall Street, could once again, fall for another con from the clown Bernanke!
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