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QE3 has begun.

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NEW YORK (CNNMoney) -- The Federal Reserve announced plans to unleash more stimulus Thursday, in its third attempt at a controversial program to rev up the U.S. economy.

The policy, known as quantitative easing and often abbreviated as QE3, entails buying $40 billion in mortgage-backed securities each month. The end date remains up in the air, as the Fed will re-evaluate the strength of the economy in coming months.

The Fed is wasting no time. The purchases begin Friday and are expected to total about $23 billion over the remainder of September.

In addition, the Fed also indicated that it plans to keep interest rates at "exceptionally low levels" until mid-2015. Previously, the Fed had forecast rates would remain low until late 2014.

The central bank's main objective is to lower interest rates and mortgage rates in particular. By keeping rates low, the Fed hopes to fuel more spending and eventually, more hiring.

The policy "should put downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative," the Fed's official statement said.The central bank's main objective is to lower interest rates and mortgage rates in particular. By keeping rates low, the Fed hopes to fuel more spending and eventually, more hiring.

http://money.cnn.com/2012/09/13/news/economy/federal-reserve-qe3/index.html?hpt=hp_t3

Awesome!

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great

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this time it's bound to work

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open-ended, unlimited flood of money supply.

By golly we're going to inflate our way out of this.

The timing of this being so close to the election is probably not coincidental.

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not saying i agree with the QE but isn't real inflation nearly negative?

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It's been tame, today's report showed a moderate bump.

But I'm pretty sure the Fed wants inflation.

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you mean they're intentionally devaluing the currency?

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you mean they're intentionally devaluing the currency?

Not just them, most major central banks.

Competitive devaluation.

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Um...that's what happens when you print more/influx more money.

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Not just them, most major central banks.

Competitive devaluation.

yea, that's what I meant. I figure so too.

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you mean they're intentionally devaluing the currency?

Duh, theyre trying to destroy the dollar/economy on purpose. We've been telling you guys this forever now.

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Ah, wouldn't it be wonderful to be a TBTF bank?

Getting money for next to nothing from the Federal Reserve and then loaning it back to the Federal Government; creating massive bank profits and bonuses out of thin air, all paid for by US taxpayer dollars.

Meanwhile, hard working Americans watch the value of their paychecks and savings accounts shrink with every QE.

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