The Fed is trying to jumpstart jobs because CONGRESS won't do its job.

[Skidmore]

CONGRESS would not pass the jobs act, or do anything remotely constructive in this area. Also, I don't buy the BS about banks and businesses sitting on their hands because they are unsure of what happens next. That has always been true. It didn't appear to bother them during the past two decades when they (especially the banks knew) that they were loaning funny money and throwing parties with it. I just get furious when I think that so many have bought the idea that businesses are entitled to profit and no risk. That no business can fail and that bankers are above the law because they belong to some sort of priesthood.

CONGRESS and the business and financial communities need some serious schooling in civic responsibility.

[Scootaloo]

1. Almost, but not quite.

It's not congress.

It's congressional Republicans.

It's an important distinction to note. Waving your fist against "Congress" just secures the Republican framing that "government doesn't work."

Government would work... if the Republicans would let it.

[Surya Gayatri]

3. + 1,000,000 !

[valerief]

7. Terrific point! The House majority party HATES AMERICA. nt

[alp227]

10. Well, REPUBLICANS control the House, and Republicans block everything in the Senate!

[sendero]

2. Fed is doing this for the banks..

... this has nothing to do with jobs, period.

While I agree that the do-nothing Republican congress is reprehensible, lowering interest rates from fantastically low to unbelievably low isn't going to do JACK SHIT to the overall economy.

[rfranklin]

4. You are absolutely correct...won,t create any significant increase in jobs...

Federal Reserve may launch QE3, but it won't create jobs

...The hope is that such a program will lower interest rates further, translating into cheap borrowing for businesses, consumers and homebuyers. In turn, more lending could lead to more hiring.


Here's the problem though: The more easing that the Fed does, the less impact it has on the broader economy. Even the Fed admits as much.


"There may be some diminishing returns and that would be a consideration we'd have to look at as we try to analyze what our options are," Fed Chairman Ben Bernanke said in June.

http://finance.yahoo.com/news/federal-may-launch-qe3-wont-120600268.html

[MrDiaz]

5. more

money for the banks, more interest for the people. They keep doing the same shit that doesn't work...Why? Well Wall Street obvioulsy loves it, maybe they know something that we don't.

[reformist2]

6. The Fed *has* to do this, to prop up the bond market.

If the Fed didn't mop up some of the $1.2 trillion in new debt coming from the US government every year, the bond market would be oversaturated, interest rates would soar, and the economy would collapse.

[reflection]

8. Hear hear! Probably the most true thing I'll read all day

and I tip my hat to you, sir/madam

[Heather MC]

9. If it pisses off the Republicans then it must good

I don't understand the impact of what this means totally, I just know the Dow went up 200 pts, and Republicans are pissed claiming he is helping President Obama win. So if that is the preception then go for it.

Bernake says he will continue to monitor the situation so it's not like it's a perminate thing, and hopefully if it's not working he will stop it.

I am just hoping the change will allow me to finally refiance my home and not be treated like a criminal even though my Husband as amazing credit, and our Debt ratio is extremely low. 5 years ago we were a banks wet dream. Now we are an unnecessary risk. it's very frustrating. We got better, the banks got worse, and we pay the price.