Sep 13 2013
Henery Paulson, US Treasury Secretary admired Fed Chairman Ben S. Bernanke for steering the economy recovery from the financial crisis of 2008. He also said that end of Quantitative easing will bring instability in the market.
Meeting of Federal Open Market Committee will be held on 17th and 19th September in which future of third Quantitative Ending will be discussed. According to Bloomberg survey conducted on 6th September, Economists are expected to reduce the monthly assets from $85 billion to $75 billion.
In an Interview Paulson said that when the problem is very big and complex than it is very hard to find a perfect solution to it. The Fed has promised to cut down the asset purchases until stability is gained in the labor market. In order to reduce the interest rates, strengthen economy and reduce unemployment, Central Bank has announced the third round of Quantitative Easing in September 2013.
Rate Range projection by Bank
Next Week: 98.50-101.5
Next 3 Week: 90.00-105.0
