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November 1, 2010

Guardian: US to renew QE with $1tn

By Spear's

US central bank boss Ben Bernanke is expected push ahead this week with up to $1tn of quantitative easing to spur growth and cut unemployment.

US central bank boss Ben Bernanke is expected push ahead this week with up to $1tn of quantitative easing to spur growth and cut unemployment.

In a crucial week for the moribund US economy, the Federal Reserve chairman will override doubters and inject funds into the banking system to boost lending and improve the outlook for national income growth and jobs.

The meeting of the Fed is one of four crucial conventions of central banks taking place this week as the Bank of England, European Central Bank and Bank of Japan all meet to discuss ways to boost flagging economies.

The decision by the Fed will probably set the tone for the others and President Barack Obama, trapped by the refusal of Republicans to sanction a fiscal boost to the economy, will cheer any move by the Fed to pour billions into the economy just few days ahead of the Congressional mid-term elections.

To read the full story, visit guardian.co.uk

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