More "stimulus" from the Fed

[SMS]

Interesting...highlights the common belief that the Fed is winging it. http://www.cnbc.com/id/43739458

Curious comment in the article:

"Bernanke maintained that temporary factors, such as high food and gas prices, have slowed the economy. He said those factors should ease in the second half of the year and growth should pick up. But if that forecast proves wrong, he said the Fed is prepared to do more."

They go on to say that they could be wrong and those price hikes could be longer lasting.

WTF? Sounds like he's throwing sh$t at a wall and hoping something sticks. What on earth would lead him to believe that gas and food is going to drop anytime soon?

 

[grizzly97]

That's pretty much what they like to do...throw shat around.

 

[Billybob]

Geithner says hard times to continue for many
APAP – Sun, Jul 10, 2011

WASHINGTON (AP) - Treasury Secretary Timothy Geithner (GYT'-nur) says many Americans will face hard times for a long time to come.

He says President Barack Obama rescued the United States from a second Great Depression and will keep working to strengthen the economy. But Geithner says will be some time before many people feel like the country is recovering.

Geithner tells NBC's "Meet the Press" that it's a very tough economy. He says that for a lot of people "it's going to feel very hard, harder than anything they've experienced in their lifetime now, for a long time to come."

http://news.yahoo.com/geithner-says-hard-times-continue-many-150523958.html

 

[HMFIC]

They will be working to spin whatever they can and to pull whatever strings they can to prop things up and pull the wool for the election.

Don't be suprised if they do some crazy sounding things in an effort to try and rescue the re-election. When it all comes down to it, unemployment, hiring rates and the GDP month over month will play a BIG role in their chances. They know just as well as everyone that if things are the way they are now in a year, they don't have a prayer.

 

[ez bake]

They will be working to spin whatever they can and to pull whatever strings they can to prop things up and pull the wool for the election.

Don't be suprised if they do some crazy sounding things in an effort to try and rescue the re-election. When it all comes down to it, unemployment, hiring rates and the GDP month over month will play a BIG role in their chances. They know just as well as everyone that if things are the way they are now in a year, they don't have a prayer.

This - I can see the biggest factors in oil/food/gas dropping in price being a re-election attempt (or even a Dem in office). I don't think they have a prayer and if they attempt something like this (via lobbyist connections), then I'd say its one of the more sleazy things we've seen in a while.

 

[Vamoose]

I think it'll have to get worse than it is now (extended double digit unemployment at least) for Bachmann, the current GOP front runner, to get elected. She poles good within the party, but I don't think she can get the needed independent vote to win the general election. I think Romney would have a better chance of beating Obama in the general, but I don't think Romney can win the nomination. No offense to anyone. Just speculating.