The Fed announced that they will continue Quantitative Easing until unemployment drops below 6.5%.
Here’s the deal:
It (the Fed) will buy mortgage-backed securities at a rate of $40 billion a month. It will buy longer-term Treasury securities at a rate of $45 billion.
At $85 billion per month, the total amount that the Fed will increase the money supply by is $1.02 TRILLION in 2013.
Winter is coming…