stoje_i_patrze
12.08.09, 21:29
i jakie to będzie mieć skutek na rynek akcji? kto skupi 568mld co kwartał
nowych obligacji?
For immediate release
CytatInformation received since the Federal Open Market Committee met in
June suggests that economic activity is leveling out. Conditions in financial
markets have improved further in recent weeks. Household spending has
continued to show signs of stabilizing but remains constrained by ongoing job
losses, sluggish income growth, lower housing wealth, and tight credit.
Businesses are still cutting back on fixed investment and staffing but are
making progress in bringing inventory stocks into better alignment with sales.
Although economic activity is likely to remain weak for a time, the Committee
continues to anticipate that policy actions to stabilize financial markets and
institutions, fiscal and monetary stimulus, and market forces will contribute
to a gradual resumption of sustainable economic growth in a context of price
stability.
The prices of energy and other commodities have risen of late. However,
substantial resource slack is likely to dampen cost pressures, and the
Committee expects that inflation will remain subdued for some time.
In these circumstances, the Federal Reserve will employ all available tools to
promote economic recovery and to preserve price stability. The Committee will
maintain the target range for the federal funds rate at 0 to 1/4 percent and
continues to anticipate that economic conditions are likely to warrant
exceptionally low levels of the federal funds rate for an extended period. As
previously announced, to provide support to mortgage lending and housing
markets and to improve overall conditions in private credit markets, the
Federal Reserve will purchase a total of up to $1.25 trillion of agency
mortgage-backed securities and up to $200 billion of agency debt by the end of
the year. In addition, the Federal Reserve is in the process of buying $300
billion of Treasury securities. To promote a smooth transition in markets as
these purchases of Treasury securities are completed, the Committee has
decided to gradually slow the pace of these transactions and anticipates that
the full amount will be purchased by the end of October. The Committee will
continue to evaluate the timing and overall amounts of its purchases of
securities in light of the evolving economic outlook and conditions in
financial markets. The Federal Reserve is monitoring the size and composition
of its balance sheet and will make adjustments to its credit and liquidity
programs as warranted.
