“We are unlikely to see much benefit to growth or to employment from further asset purchases,” Plosser said in a speech today at the district bank in Philadelphia. “Conveying the idea that such action will have a substantive impact on labor markets and the speed of the recovery risks the Fed’s credibility.”
Charles, you ignorant slut. Stop speaking in half-truths.
None of the QE games have done a damn thing for employment.
Employment is factually, when looked at through the only lens that matters, the percentage of working-age people who have jobs, no better than it was when QE was first initiated.
This, incidentally, is why I was all over Bernanke originally on the announcement; he has the same charts I and everyone else does and therefore The Fed Statement was a knowing, intentional fraud as there is no evidence that any of the previous QEs have done anything whatsoever to improve the job market and Bernanke knows it.