Federal Reserve officials, impatient with the economy's sluggish growth and high unemployment, are moving closer to taking new steps to spur activity and hiring. Since their June policy meeting, officials have made clear—in interviews, speeches and testimony to Congress—that they find the current state of the economy unacceptable. Many officials appear increasingly inclined to move unless they see evidence soon that activity is picking up on its own.My question is move to do what?
Print more money? That just enriches banks and gives the stock market a sugar rush.
Buy more mortgages? Rates are already at all time lows.
Cut the Fed Funds rate? Hmmm, below zero would be fun.
Just what exactly can you do? Here's a novel idea, why not ask businesses what they would like done? Guess what they do not want - more money printing. Food prices WILL be going up this year so debasing the currency is just dumb. No, the crumbling euro is not going to cover that because there are other currencies out there that will soar.
On second thought, go ahead, Ben, do it. I am already long gold - which, by the way has a lousy sentiment reading right now and a price compression to launch it into space.
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