How many people have been saying for weeks that there would be NO QE3??? I will confess, I think I was one of them, thank goodness I said yesterday that Bernanke was a US Dollar Killer!!! But just goes to show you, you CAN'T think only ONE WAY! Keep an open mind in your trading...trade price action and the market sentiment...NOT Your Own Sentiment!
Many on FOMC Favored Easing Soon If No Sustained Growth Pickup
Many Federal Reserve policy makers said additional stimulus would probably be needed soon unless the economy shows signs of a durable pickup, according to minutes of their most recent meeting. “Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery,” according to the record of the Federal Open Market Committee’s July 31- Aug. 1 gathering released today in Washington. Policy makers said after the meeting that they will step up record stimulus if needed ... (full story)