FED will increase unemployment until unemployment decreases. BRILLIANT PLAN!!
Am I reading this right? The Fed is going to buy 40B in home mortgages every month, distorting supply & demand, and increasing structural unemployment due to price values being too high where jobs are needed. They will do this until the very laws of economics collapse and job creation begins?
"The Fed said it will buy $40 billion of mortgages per month in an attempt to foster a nascent recovery in the real estate market. The purchases will be open-ended, meaning that they will continue until the Fed is satisfied that economic conditions, primarily in unemployment, improve."