Tuesday, July 12, 2011

Fed Minutes Released: Here Comes QE3

Have we not repeated that QE will continue  To Infinity....AND BEYOND!!  ?
The Fed minutes have just been released, and surprise, surprise, "some members think QE 3 would be appropriate."

And there goes gold mimicking an Endeavor launch.

"Some participants noted that if economic growth remained too slow to make satisfactory progress toward reducing the unemployment rate and if inflation returned to relatively low levels after the effects of recent transitory shocks dissipated, it would be appropriate to provide additional monetary policy accommodation....A few members noted that, depending on how economic conditions evolve, the Committee might have to consider providing additional monetary policy stimulus, especially if economic growth remained too slow to meaningfully reduce the unemployment rate in the medium run."

For those interested in the entire FOMC Minutes...
Fed Minutes

Live 24 hours gold chart [Kitco Inc.]