17 Nov
Posted in: Blog
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$600,000,000,000 and all we get is 9.1% unemployment?

From MarketWatch:

[Boston Federal Reserve Bank president Eric] Rosengren, a strong supporter of the Fed’s $600 billion plan to purchase Treasurys, said the plan could cut the unemployment rate by about half a percentage point by the end of 2012, or more than 700,000 additional jobs.

So in 13 months we may see unemployment approach an even 9%?  Maybe?  And this is what we’ve printed $600 billion for?

Call me crazy, but does this Rosengren sound like he’s trying to draw attention to the government’s impotency?

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