Fed’s Balance Sheet To Hit A Shocking $6 Trillion
December 13, 2012
On the heels of the FOMC meeting yesterday, today the man who announced QE4 before anyone else caught it, Michael Pento, has written exclusively for King World News to let readers know what the implications of the Fed’s actions going forward will be. Here is Pento’s piece: “As expected, Ben Bernanke officially launched QE IV with his announcement this week of $85 billion dollars worth of unsterilized purchases of MBS and Treasuries. In unprecedented fashion, the Fed also tied the continuation of its zero interest rate policy and trillion dollars per annum balance sheet expansion to an unemployment rate that stays above 6.5%.”
Michael Pento continues:
“Now, pegging free money and endless counterfeiting to a specific unemployment figure would be a brilliant idea if printing money actually had the ability to increase employment….