Chillin' out till it needs to be funded
(first 30 minutes)
Really why differentiate between Fed Funds rate target and asset purchase programs. One wonders if this presser will have any significant business in the Q&Q seeing that it would lead and linger slowly on reasons for the new unemployment and inflation taarget led policy execution to increase transparency.
Another question targets why the policy change now, which lets Bernanke talk about the different opinions on the FOMC Committee regards the longer term trend of inflation and Employment /recovery vs. ther not being any fundamental change in policy
Bernanke again lucid in keeping a distance from otehrs expectations on the Fiscal cliff, seeing as the FEd is in charge of the Monetary programme only and the general optimism regarding a deal is strictly outside his purview of valid expectations
Also the program is finally to be validated against costs if it does not perform to expectations or expectations tempered if there is indeed a fiscal cliff while indeed perhaps “increase it a bit”, quoting CBO projections to support the stretching of the adverse impact from the cliff