Read it and weep, GOP saboteurs:
The Federal Reserve launched another aggressive stimulus program on Thursday, saying it will buy $40 billion of mortgage-related debt per month until the outlook for jobs improves substantially as long as inflation remains contained.
In an additional step that reflects just how concerned Fed officials have become about the health of the economy, policymakers said they would not likely raise rates from current rock-bottom lows until at least mid-2015. Previously, it had set such guidance at late 2014.
U.S. stocks added to gains on the Fed’s move, the dollar fell broadly and gold hit a six-month high. However, bond prices dropped, pushing yields higher as investors were seemingly underwhelmed by the pace of purchases. Oil prices also slipped.
The NeoConfederates’ heads will be asplodin’ over this one!