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  • 3 years ago
FDR3160 The Federal Reserve: There Will Be No Economic Recovery.

FDR3160 The Federal Reserve: There Will Be No Economic Recovery.

On October 19th, 2014, the Federal Reserve ceased the third round of quantitative easing (QE3) and all but promised to raise the interest rate by the end of 2015. It was widely speculated that an increase in the interest rate would occur in September, but the month came and went without change. It was reported that the Federal Reserve wanted to see more improvement in the economy before raising the key interest rate. Despite approximately $3.5 trillion worth of asset purchases since 2007 and the unprecedented and prolonged decrease of the Effective Federal Funds Rate to a historical low - effectively 0% - the economy had yet to recover enough to warrant a rate increase. With their “the economy is recovering, we promise” credibility on the line, the Federal Reserve increased the interest rate 0.25% on December 16th - effectively adjusting it in name only and leaving it at historic lows. This didn’t stop the mainstream media from proclaiming the "dawning of a new era,” announcing an end

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