"The Fed basically is tilting in a direction that is new but not admitting that the old direction was wrong," Ferry said. "They can't say we will sell securities into the market every month. It's not an option."Who are the real Wizards of Smart when it comes to QE?
The ultimate impact of QE3, then, may be some modest impact on the stock market while falling short of the economic stimulation that the Fed seeks."The effect of QE3 is nothing more than pushing up the stock market," Sam Zell, CEO of Equity Group Investments in Chicago, said in a CNBC interview on Wednesday. "The market is being pushed up to record levels with limited trading. We have a very low volume and the market goes up, which is manipulation."
Thursday, October 4, 2012
Fed Easing Has Little Impact So Far: Out of Bullets? - US Business News - CNBC
Fed Easing Has Little Impact So Far: Out of Bullets? - US Business News - CNBC
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