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Saft Says: QE redistributes wealth upwards

Thursday, September 13, 2012 - 01:46

Sep 13 - Reuters Columnist James Saft says the latest announcement by the Federal Reserve to stimulate the U.S. economy by buying mortgage securities will result in more wealth in the wrong places.

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-- columnist James. Rivera told us today that we -- going to have open indeed quantity. In other words quite. And continue until it works. Even if. You've got action. Understand that they're using tools that are not really will soon be passed. In some ways that entrap by congress which is ongoing work on -- to its role in setting. Choosing to concentrate air on purchases of mortgage backed securities -- good night. Firstly he takes the pressure off of the treasury market your purchases at least where. Is well there's -- better chance perhaps that every effort to have more. Transmission -- the end user and Richard. Want to potentially work to -- Happens if they weren't and a MBS in the same waiting around treasures. What they -- that student loans. Stuff out of our garages. And what happens if in January we drive at all this. There has to be shown concern about how many bullets. Left and managing. Remains that this is unprecedented. Policy in the market really likes. That's as is intended -- -- hoping that the well. Here's my cancer. What are their motivation. And jobs is really going one Q eat redistribute wealth upwards into words financial service. We've been -- that the United States for a long time and I am not chew on the evidence we need you anymore.

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Saft Says: QE redistributes wealth upwards

Thursday, September 13, 2012 - 01:46