Bernanke: Rate Hikes On Hold Until 2013 Or I Retire, Whichever Comes First

This is a new one.  The Fed has decided to telegraph the fact that rates aren’t going up for like two years.

To promote the ongoing economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to keep the target range for the federal funds rate at 0 to 1/4 percent.  The Committee currently anticipates that economic conditions–including low rates of resource utilization and a subdued outlook for inflation over the medium run–are likely to warrant exceptionally low levels for the federal funds rate at least through mid-2013.

In other words, “Free money as far as the eye can see so for gods sake please hire someone!  One person!  Can you guys just hire one human being before I rip my own beard out?  Please!?!?!”

Okay, so they didn’t exactly phrase it like that.

More double-speak fatalism at the link below:

http://www.federalreserve.gov/newsevents/press/monetary/20110809a.htm

 

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