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Message
re: QE3
Posted on 9/13/12 at 12:58 pm to OnTheBrink
Posted on 9/13/12 at 12:58 pm to OnTheBrink
quote:
So that in turn does what? Bail out the homeowners?
Raises MBS prices and lowers mortgage rates. The Fed's old transmission mechanism was buying mortgages, lowering the mortgage and financing rates, and in turn unemployment was lowered (there were several other steps but I'm simplifying).
That mechanism is broken, but still has some value.
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