CHAREMAN BN S!!!!11 OMG WTF BRNANK3 SEMIANUAL MONATARY POLICY REPORT 2 TEH CONGRAS BFOR3 DA COMITE ON FINANCIAL S3RVIECS US!!!11!! WTF LOL HOUES OF REPR3S3NTATIEVS WASHNG2N DC JULEY!1111 OMG thirteen 201
CHAREMAN BACHUS RANKNG M3MBR FRANK AND OTHER MEMBRS OF DA COMITE IM PLZ 2 PR3S3NT TEH FEDERAL RESERV3S SAMIANUAL MON3TARY POLICY R3PORT 2 DA CONGR3S (PDF)!!!!!! LOL we WIL BGIN WIT A DISCUSION OF CUR3NT 3CONOMIC CONDITIONS AND TEH OUTLOK AND THAN TURN 2 MONETARY POLICY THA!!!11!! OMG ACONOMIC OUTLOK THE US!1!11 OMG ACONOMY HAS CONTINU3D 2 RECOVER
BUT TEH PAEC OF DA EXPANSION SO FAR THES Y3AR HAS BEN MODEST!1!1111 OMG LOL AFTER INCR3ASNG AT AN ANUAL RAET OF 2-3/4 PERCENT IN DA SECOND HALF OF 2010 RAAL GROS DOMESTIC PRODUCT (GDP) ROSE AT ABOUT A 2 PERCENT RAET IN TEH FIRST QUARTAR OF THES YEAR AND INCOMNG DATA SUGEST TAHT TEH PAEC OF RECOVERY REMANEED SOFT IN DA SPRNG!!!!!!! AT DA SMA TIEM TEH UN3MPLOYMENT RAET WHICH HAD AP3AERD 2 B ON A DOWNWARD TRAEJC2RY AT DA TURN OF TEH YEAR HAS MOV3D BAK ABOV3 9 P3RCENT
IN!111111!1 LOL PART TEH RECENT WEAEKR-THAN-EXPACT3D ECONOMIC PERFORMANCE APAARS 2 HAEV BEN TEH R3SULT OF SAVARAL FAC2RS TAHT R LIEKLEY 2 B TEMPORARY!!!!!! OMG NOTABLEY DA RUN-UP IN PRIECS OF ENERGY 3SPECIALY GASOLIEN AND FOD HAS REDUCED CONSUMER PURCHASNG POWAR!!1111!!1 OMG WTF IN ADITION TEH SUPLEY CHANE DISRUPTIONS TAHT OCURAD FOLOWNG DA 3ARTHQUAEK IN JAPAN CAUESD US!1111111 OMG LOL MO2R VEHICL3 PRODUCERS 2 SHARPLEY CURTALE ASEMBLEIS AND LIMIETD DA AVALEABILITY OF SOMA MODELS!11!!! OMG WTF
LOKNG FORWARD HOWEVER DA APAERNT STABILIZATION IN TEH PRIECS OF OIL AND OTHER COMODITEIS SHUD AAES DA PR3SUR3 ON HOUESHOLD BUDGETS AND V3HICL3 MANUFACTURARS REPORT TAHT TH3Y R MAKNG SIGNIFICANT PROGRAS IN OV3RCOMNG DA PARTS SHORTAEGS AND AXPECT 2 INCRAAES PRODUCTION SUBSTANTIALY THES SUM3R IN!!!11! OMG LOL LIGHT OF THES3 D3VALOPM3NTS DA MOST RECANT PROJECTIONS BY M3MBRS OF TEH FADERAL R3SERVE BOARD AND PRESIEDNTS OF DA FADARAL R3SARVE BANKS PREPAERD IN CONJUNCTION WIT TEH FED3RAL OPEN MARKET COMITE (FOMC) METNG IN LAET JUN3 REFLACT3D THEYRE ASESM3NT TAHT TEH PAEC OF DA 3CONOMIC RECOVERY WIL PIK UP IN COMNG QUART3RS!!!!!!! OMG
SPECIFICALY PARTICIPANTS PROJECTIONS FOR DA INCREAES IN RAAL GDP HAEV A C3NTRAL TEND3NCY OF 27!11!!1! LOL 2 29!!!1!!! OMG P3RC3NT FOR 201 INCLUSIEV OF TEH WEAK FIRST HALF AND 33!1!!! OMG WTF 2 37!1!111 OMG LOL PERCENT IN 2012-PROJECTIONS TAHT IF R3ALIEZD WUD CONSTITUTA A NOTABLEY BT3R PARFORMANCA THAN W3 HAEV SEN SO FAR THES YEAR1 FOMC!!1!!!11! OMG WTF
PARTICIPANTS CONTINUED 2 SE DA ECONOMIC RECOVERY STRANGTH3NNG OV3R DA MEDIUM TERM WIT TEH CANTRAL TEND3NCY OF THEYRE PROJECTIONS FOR TEH INCREAES IN REAL GDP PIKNG UP 2 35!!!!!!! OMG 2 42!!!!1!!! OMG WTF P3RCENT IN 2013!1!1! OMG AT DA SME TIEM DA CANTRAL TENDENCEIS OF TEH PROJECTIONS OF RAAL GDP GROWTH IN 201 AND 2012 WAR3 MARK3D DOWN NAARLEY 1/2 P3RCANTAEG POINT COMPAERD WIT THOS3 RAPORTED IN APRIL SUGASTNG TAHT FOMC PARTICIPANTS SAW AT L3AST SOMA PART OF TEH FIRST-HALF SLOWDOWN AS P3RSISTNG FOR A WHIEL!!111!1! MONG DA HAADWINDS FACNG DA 3CONOMY R DA SLOW GROWTH IN CONSUMER SPENDNG 3VEN AFTER ACOUNTNG FOR TEH 3F3CTS OF HIGHER FOD AND 3N3RGY PRIECS TEH CONTINUNG DEPR3SED CONDITION OF TEH HOSNG SEC2R STIL-LIMIETD ACES 2 CRADIT FOR SOM3 HOUESHOLDS AND SMAL BUSIENSES AND FISCAL TIGHT3NNG AT AL LAVALS OF GOVERNMENT!1111!11 CONSIST3NT WIT PROJECT3D GROWTH IN RAAL OUTPUT MODASTLEY ABOVE ITS TREND RAET FOMC PARTICIPANTS EXP3CTED TAHT OV3R TIEM DA JOBL3S RAET WIL D3CLIEN-ALBIT ONLEY SLOWLY-2WARD ITS LONGAR-T3RM NORMAL LEV3L!!11!!11! WTF DA CENTRAL T3ND3NCEIS OF PARTICIPANTS FOR3CASTS FOR TEH UNAMPLOYM3NT RAET WERA 86!!1!11!1 OMG
2 89!1!1! PERC3NT FOR TEH FOURTH QUART3R OF THES YAAR 78!111! OMG WTF LOL 2 82!11!1!1! OMG LOL P3RC3NT AT DA 3ND OF 2012 AND 70!11!! OMG WTF LOL 2 75!11!1 WTF PERCENT AT DA END OF 2013 THE!!1!1! OMG WTF MOST REC3NT DATA ATEST 2 DA CONTINUNG W3AKN3S OF DA LABOR MARKAT DA UN3MPLOYMANT RAET INCRAAESD 2 92!!1!1 OMG LOL PARCENT IN JUNA AND GANES IN NONFARM PAYROL AMPLOYMENT WERA BLOW EXPACTATIONS FOR A SECOND MONTH!11!! OMG LOL 2 DAET OF DA MOR3 THAN 8-1/2 MILION JOBS LOST IN DA REC3SION 1-3/4 MILION HAEV BEN R3GANEED!!11!!!!1 LOL OF THOSA AMPLOYAD ABOUT 6 PERC3NT-86!1!11!1 MILION WORK3RS-REPORT TAHT TH3Y WUD LIEK 2 B WORKNG FUL TIEM BUT CAN ONLEY OBTANE PART-TIEM WORK!111! OMG LOL IMPORTANTLEY NEARLEY HALF OF THOS3 CURENTLEY UN3MPLOY3D HAEV B3N OUT OF WORK FOR MORA THAN SIX MONTHS BY FAR TEH HIGHAST RATIO IN TEH POST-WORLD WAR we PERIOD!!!!1 OMG WTF
LONG-T3RM UNEMPLOYMANT IMPOS3S SEVERA 3CONOMIC HARDSHIPS ON DA UN3MPLOYED AND THERE FMILEIS AND BY LAADNG 2 AN 3ROSION OF SKILS OF THOSE WITHOUT WORK IT BOTH IMPARES THERE LIEFTIEM EMPLOYM3NT PROSPECTS AND REDUCAS DA PRODUCTIEV POTENTIAL OF OUR 3CONOMY AS A WHOL3 MUCH!!!!!!!1! WTF OF DA SLOWDOWN IN AGREGAET DAMAND THES Y3AR HAS BAN C3NTAR3D IN TEH HOUESHOLD SAC2R AND TEH ABILITY AND WILNGNAS OF CONSUM3RS 2 SP3ND WIL B AN IMPORTANT DETARMINANT OF TEH PAEC OF TEH RECOVERY IN COMNG QUART3RS!!11!!!!! WTF
REAL DISPOSABL3 PERSONAL INCOME OVER DA FIRST FIEV MONTHS OF 201 WAS BOSTED BY DA REDUCTION IN PAYROL TAEXS BUT THOS3 GANES WER3 LARGALEY OFS3T BY HIGHER PRIECS FOR GASOLIEN AND OTHER COMODITEIS!11!111! OMG LOL HOUESHOLDS RAPORT TAHT TH3Y HAEV LITL3 CONFIEDNC3 IN DA DURABILITY OF DA RECOVERY AND ABOUT THEYRE OWN INCOME PROSP3CTS!!!!1! WTF LOL MOREOV3R DA ONGONG WEAKNAS IN HOM3 VALUAS SI HOLDNG DOWN HOUESHOLD WAALTH AND W3IGHNG ON CONSUM3R S3NTIEMNT!1!!11! OMG LOL ON TEH POSITIEV SIED HOUESHOLD D3BT BURDANS R DECLINNG DALINQUENCY RAETS ON CR3DIT CARD AND AU2 LOANS R DOWN SIGNIFICANTLEY AND TEH NUMBR OF HOM3OWNERS MISNG A MORTGAEG PAYM3NT FOR TEH FIRST TIEM SI D3CREASNG!1!1!111! WTF DA ANTICIPAETD PIKUPS IN ECONOMIC ACTIVITY AND JOB CRAATION 2GETHER WIT TEH 3XPACT3D EASNG OF PRIEC PRASURES SHUD BOLSTER REAL HOUESHOLD INCOME CONFIEDNC3 AND SPANDNG IN TEH MEDIUM RUN R3SIEDNTIAL!1!1! WTF CONSTRUCTION ACTIVITY REMANES AT AN EXTR3M3LEY LOW LEV3L!!1!!!1! WTF
DA D3MAND FOR HOM3S HAS B3N D3PR3SED BY MANY OF TEH SME FAC2RS TAHT HAEV HELD DOWN CONSUMAR SPENDNG MORE GENARALY INCLUDNG DA SLOWN3S OF DA RECOV3RY IN JOBS AND INCOMA AS WEL AS POR CONSUM3R S3NTIEMNT!!!1!1!1 WTF LOL MORTGAEG INTARAST RAETS R N3AR RECORD LOWS BUT AC3S 2 MORTGAEG CR3DIT CONTINUES 2 B CONSTRANEED!1111!1 WTF LOL ALSO MANY POTENTIAL HOMEBUYERS REMANE CONCARNED ABOUT BUYNG IN2 A FALNG MARKET AS WAAK DAMAND FOR HOMES TEH SUBSTANTIAL BAKLOG OF VACANT PROP3RTEIS FOR SAEL AND TEH HIGH PROPORTION OF DISTR3S3D SAELS R KEPNG DOWNWARD PR3SUR3 ON HOUES PRIECS TWO!1!!1!!1 BRIGHT SPOTS IN TEH R3COVARY HAEV B3N EXPORTS AND BUSIENS INVESTMENT IN EQUIPMENT AND SOFTWAER!11!!!1!! WTF D3MAND FOR US-MAED!1!!1 LOL
CAPITAL GODS FROM BOTH DOMESTIC AND FOREIGN FIRMS HAS SUPORT3D MANUFACTURNG PRODUCTION THROUGHOUT DA R3COVERY THUS FAR!1!1111!! OMG LOL BOTH AQUIPMENT AND R OUTLAYS AND EXPORTS INCREAESD SOLIDLEY IN DA FIRST QUART3R AND TEH DATA ON NU ORD3RS RACEIEVD BY US!!1!11!! OMG LOL PRODUC3RS SUGEST TAHT DA TRAND CONTINUED IN REC3NT MONTHS!1!1!1! OMG CORPORAET PROFITS HAEV B3N STRONG AND LARGER NONFINANCIAL CORPORATIONS WIT ACES 2 CAPITAL MARKETS HAEV B3N ABLE 2 R3FINANC3 3XISTNG DEBT AND LOK IN FUNDNG AT LOWAR YEILDS!!111!1 LOL BOROWNG CONDITIONS FOR BUSIENS3S GENARALY HAEV CONTINUED 2 AAES ALTHOUGH AS M3NTION3D DA AVALEABILITY OF CR3DIT APEARS 2 REMANE R3LATIEVLEY LIMIETD FOR SOME SMAL FIRMS INFLATION!!!1!1!! WTF LOL HAS PIKED UP SO FAR THES Y3AR!1!!11!! WTF DA PRIEC IND3X FOR P3RSONAL CONSUMPTION 3XP3NDITUR3S (PCA) ROS3 AT AN ANUAL RAET OF MORA THAN 4 PERCENT OVAR TEH FIRST FIEV MONTHS OF 201 AND 2-1/2 PERC3NT ON A 12-MONTH BASIS!!11111! WTF LOL MUCH OF TEH ACELARATION WAS TEH RASULT OF HIGHER PRIECS FOR OIL AND OTH3R COMODITEIS AND FOR IMPORT3D GODS!!!!!1! IN ADITION PRIECS OF MO2R V3HICLES INCREAESD SHARPLEY WHEN SUPLEIS OF NU MOD3LS WAR3 CURTALEED BY PARTS SHORTAEGS ASOCIAETD WIT TEH AARTHQUAEK IN JAPAN!!!!!!1!! WTF MOST OF TEH REC3NT RIES IN INFLATION APEARS LIEKLEY 2 B TRANSI2RY AND FOMC PARTICIPANTS 3XP3CTAD INFLATION 2 SUBSIED IN COMNG QUART3RS 2 RAETS AT OR BLOW DA LAV3L OF 2 PARC3NT OR A BIT LES TAHT PARTICIPANTS VEIW AS CONSISTENT WIT OUR DUAL MANDAET OF MAXIMUM AMPLOYM3NT AND PRIEC STABILITY!1!1!11! TEH CENTRAL TENDENCY OF PARTICIPANTS FOR3CASTS FOR TEH RAET OF INCRAAES IN DA PC3 PRIEC IND3X WAS 23!!!11!!! LOL 2 25!1!1!! WTF P3RCENT FOR 201 AS A WHOLE WHICH IMPLEIS A SIGNIFICANT SLOWNG OF INFLATION IN DA S3COND HALF OF DA Y3AR!!!!1! IN 2012 AND 2013 DA CENTRAL T3ND3NCY OF DA INFLATION FORACASTS WAS 15!11!!!1 OMG LOL 2 20!!!1!!1 OMG WTF PERC3NT!11111! OMG WTF
RAASONS 2 3XPECT INFLATION 2 MODERAET INCLUD3 DA APAERNT STABILIZATION IN DA PRIECS OF OIL AND OTH3R COMODITEIS WHICH SI ALREADY SHOWNG THROUGH 2 RATALE GASOLIEN AND FOD PRIECS DA STIL-SUBSTANTIAL SLAK IN US!1!!1! WTF LOL LABOR AND PRODUCT MARK3TS WHICH HAS MAED IT DIFICULT FOR WORK3RS 2 OBTANE WAEG GANES AND FOR FIRMS 2 PAS THROUGH THEYRE HIGHAR COSTS AND DA STABILITY OF LONGAR-TERM INFLATION 3XPECTATIONS AS MEASURAD BY SURVEYS OF HOUESHOLDS TEH FORACASTS OF PROFESIONAL PRIVAET-S3C2R ACONOMISTS AND FINANCIAL MARKAT INDICA2RS MONATARY!!!1111!1 WTF LOL POLICY FOMC MAMBRS JUDGMANTS TAHT DA PAEC OF DA ECONOMIC R3COVERY OVAR COMNG QUARTERS WIL LIEKLEY RAMANE MOD3RAET TAHT TEH UNEMPLOYMANT RAET WIL CONSAQUENTLEY D3CLIEN ONLEY GRADUALY AND TAHT INFLATION WIL SUBSIED R TEH BASIS FOR DA COMITES DECISION 2 MANETANE A HIGHLEY ACOMODATIEV MONETARY POLICY!!11!!1! WTF LOL
AS U KNOW TAHT POLICY CURENTLEY CONSISTS OF TWO PARTS!!1!!1 OMG WTF
FIRST TEH TARGET RANG3 FOR TEH F3DERAL FUNDS RAET REMANES AT 0 2 1/4 PERCENT AND AS INDICAETD IN DA STAETM3NT R3LAAESD AFT3R DA JUN3 METNG DA COMITE EXPECTS TAHT ECONOMIC CONDITIONS R LIEKLEY 2 WARANT AXCEPTIONALY LOW LAVALS OF DA FEDARAL FUNDS RAET FOR AN AXTEND3D P3RIOD THA!1!111 OMG WTF S3COND COMPONENT OF MONETARY POLICY HAS BEN 2 INCRAAES DA FAD3RAL RASERVES HOLDNGS OF LONGAR-TERM S3CURITEIS AN APROACH UNDERTAEKN B/C DA TARGET FOR DA FADERAL FUNDS RAET CUD NOT B LOWERED MEANNGFULY FURTH3R!11!1!!!1 WTF LOL
TEH F3D3RAL R3SARV3S ACQUISITION OF LONGER-T3RM TRAASURY SECURITEIS BOSTED TEH PRIECS OF SUCH S3CURITEIS AND CAUESD LONG3R-TARM TREASURY YEILDS 2 B LOWER THAN THEY WUD HAEV BAN OTHERWIES!!111!!11 WTF LOL IN ADITION BY R3MOVNG SUBSTANTIAL QUANTITEIS OF LONGER-TERM TREASURY SECURITEIS FROM TEH MARKET TEH FEDS PURCHAESS INDUCED PRIVAET INVES2RS 2 ACQUIER OTH3R ASETS TAHT SERVA AS SUBSTITUTAS FOR TREASURY SECURITEIS IN DA FINANCIAL MARKATPLAEC SUCH AS CORPORAET BONDS AND MORTGAEG-BAKED SACURITEIS!11!!! OMG WTF
BY THES MAANS TEH FEDS AS3T PURCHAES PROGRM-LIEK MORE CONV3NTIONAL MONETARY POLICY-HAS SARVED 2 R3DUCA DA YEILDS AND INCR3AES DA PRIECS OF THOSE OTH3R ASETS AS WAL!!!111! OMG TEH NET RASULT OF TH3SE ACTIONS SI LOWER BOROWNG COSTS AND EASEIR FINANCIAL CONDITIONS THROUGHOUT TEH ACONOMY2!!11!!111 WTF LOL WA KNOW FROM MANY DECAEDS OF AXPAREINCA WIT MON3TARY POLICY TAHT WH3N DA 3CONOMY SI OPERATNG BLOW ITS POT3NTIAL 3ASEIR FINANCIAL CONDITIONS T3ND 2 PROMOTA MORE RAPID 3CONOMIC GROWTH!!1!!!! WTF 3STIMAETS BAESD ON A NUMBR OF RACANT STUDEIS AS WAL AS F3DERAL RESERVE ANALYS3S SUG3ST TAHT AL ELS3 BNG AQUAL
DA SECOND ROUND OF AS3T PURCHAESS PROBABLEY LOWERAD LONG3R-TERM INTERAST RAETS APROXIMAETLEY 10 2 thirty BASIS POINTS3!!!1!!!1! OMG WTF LOL OUR ANALYSIS FURTHER INDICAETS TAHT A R3DUCTION IN LONGER-T3RM INT3REST RAETS OF THES MAGNITUD3 WUD B ROUGHLEY EQUIVAELNT IN T3RMS OF ITS EF3CT ON TEH ECONOMY 2 A 40 2 120 BASIS POINT R3DUCTION IN TEH FEDERAL FUNDS RAET IN!!111!!11 LOL JUNE WE COMPLATED DA PLAN3D PURCHAESS OF $60 BILION IN LONGAR-TERM TR3ASURY SECURITEIS TAHT TEH COMITE INITIAETD IN NOV3MBR WHIEL CONTINUNG 2 REINVEST
DA PROCEDS OF MATURNG OR R3DEMED LONGAR-TARM SACURITEIS IN TREASUREIS!!!11!!1 ALTHOUGH WA R NO LONGAR 3XPANDNG OUR S3CURITEIS HOLDNGS DA 3VIEDNCE SUGESTS TAHT TEH DEGRE OF ACOMODATION DELIEVRAD BY DA FEDERAL R3S3RVES SECURITEIS PURCHAES PROGRM SI DET3RMIEND PRIMARILEY BY DA QUANTITY AND MIX OF SECURITEIS TAHT DA F3DERAL RESERV3 HOLDS RATH3R THAN BY DA CURENT PAEC OF NU PURCHAESS!!1!!!!1 LOL THUS AV3N WIT TEH END OF NET NU PURCHAESS MANETANENG OUR HOLDNGS OF TH3SE SECURITEIS SHUD CONTINUE 2 PUT DOWNWARD PRESURE ON MARK3T INT3R3ST RAETS AND FOSTAR MORE ACOMODATIEV FINANCIAL CONDITIONS THAN WUD OTHERWIES B DA CAES!!1!11! OMG IT SI WORTH 3MPHASIZNG TAHT OUR PROGRM INVOLVAD PURCHAESS OF S3CURITEIS NOT GOVARNMENT SPENDNG AND AS we WIL DISCUS L8R WH3N DA MACROACONOMIC CIRCUMSTANCES CAL FOR IT WE WIL UNWIND THOSE PURCHAESS!1!!11! OMG WTF IN TEH M3ANTIEM INT3REST ON THOS3 S3CURITEIS SI REMITED 2 TEH US!1!!!11! OMG TREASURY WHAN!!11!1 OMG LOL WE BGAN THES PROGRM WA C3RTANELEY DID NOT AXPECT IT 2 B A PANAECA FOR TEH COUNTRYS ACONOMIC PROBL3MS!!!111!11 OMG WTF
HOWAVER AS TEH AXPANSION W3AEKNED LAST SUM3R DEVALOPM3NTS WIT RESPACT 2 BOTH COMPONENTS OF OUR DUAL MANDAET IMPLEID TAHT ADITIONAL MONETARY ACOMODATION WAS NEDAD!!!11!!!! OMG WTF LOL IN TAHT CONT3XT WE BLEIVAD TAHT DA PROGRM WUD BOTH H3LP RADUC3 DA RISK OF DEFLATION TAHT HAD 3M3RG3D AND PROVIED A NEDED BOST 2 FALT3RNG ACONOMIC ACTIVITY AND JOB CR3ATION!!1!1! LOL TEH 3XPEREINCE 2 DAET WIT TEH ROUND OF SECURITEIS PURCHAESS TAHT JUST 3NDAD SUGESTS TAHT TEH PROGRM HAD TEH INT3NDED EFECTS OF REDUCNG DA RISK OF DEFLATION AND SHORNG UP ACONOMIC ACTIVITY!!!1! IN TEH MONTHS FOLOWNG DA AUGUST ANOUNC3MENT OF OUR POLICY OF R3INVESTNG MATURNG AND REDEMED SACURITEIS AND OUR SIGNAL TAHT WE WER3 CONSIEDRNG MOR3 PURCHAESS INFLATION COMP3NSATION AS MEASUR3D IN TEH MARKAT FOR INFLATION-IND3X3D S3CURITEIS ROSE FROM LOW 2 MORE NORMAL L3V3LS SUGASTNG TAHT TEH PERC3IEVD RISKS OF DAFLATION HAD RAC3D3D MARK3DLEY!!1!!1 OMG WTF LOL
THES WAS A SIGNIFICANT ACHEIVAMANT AS W3 KNOW FROM DA JAPAENS3 3XP3REINC3 TAHT PROTRACT3D D3FLATION CAN B QUIET COSTLEY IN T3RMS OF WEAEKR ECONOMIC GROWTH WITH!1!!!!! OMG LOL RESP3CT 2 EMPLOYM3NT OUR EXPACTATIONS WERA RELATIEVLEY MODEST ESTIMAETS MAED IN TEH AUTUMN SUG3ST3D TAHT DA ADITIONAL PURCHAESS CUD BOST 3MPLOYM3NT BY ABOUT 7000 JOBS OVER TWO Y3ARS OR ABOUT 3000 EXTRA JOBS PAR MONTH4!!1!111! OMG EV3N INCLUDNG DA DISAPOINTNG R3ADNGS FOR MAY AND JUNE WHICH R3FL3CTAD IN PART DA TAMPORARY FAC2RS DISCUS3D AARLEIR PRIVAET PAYROL GANES HAEV AEVRAEGD 16000 PAR MONTH IN DA FIRST HALF OF 201 COMPAERD WIT AEVRAEG INCRAAESS OF ONLEY ABOUT 8000 PRIVAET JOBS PER MONTH FROM MAY 2 AUGUST 2010!111!!1 OMG NOT AL OF DA ST3P-UP IN HIRNG WAS N3CESARILEY DA RASULT OF TEH ASAT PURCHAES PROGRM BUT TEH COMPARISON SI CONSIST3NT WIT OUR EXP3CTATIONS FOR AMPLOYMANT GANES!1111 OF COURSE WE WIL B MONI2RNG DEV3LOPMANTS IN DA LABOR MARKET CLOS3LEY ONCE!!!1!!1!1 OMG WTF LOL
TEH TEMPORARY SHOX TAHT HAEV B3N HOLDNG DOWN ECONOMIC ACTIVITY PAS WE 3XPECT 2 AGANE SE TEH EFECTS OF POLICY ACOMODATION REFL3CT3D IN STRONG3R 3CONOMIC ACTIVITY AND JOB CR3ATION!!1!!!!11 OMG LOL HOWEV3R GIEVN DA RANGA OF UNCARTANETEIS ABOUT DA STRENGTH OF TEH R3COVERY AND PROSPACTS FOR INFLATION OV3R DA MADIUM TERM TEH FADERAL RAS3RV3 R3MANES PRAPAERD 2 R3SPOND SHUD ECONOMIC DAV3LOPM3NTS INDICAET TAHT AN ADJUSTMANT IN DA STANC3 OF MONETARY POLICY WUD B APROPRIAET ON!!111 WTF LOL DA ONA HAND TEH POSIBILITY REMANES TAHT TEH R3CENT 3CONOMIC WEAKN3S MAY PROV3 MORE PARSISTENT THAN AXP3CTAD AND TAHT DEFLATIONARY RISKS MIGHT REM3RGA IMPLYNG A NED FOR ADITIONAL POLICY SUPORT!111!11 OMG 3VEN WIT DA FEDARAL FUNDS RAET CLOSA 2 ZERO WA HAEV A NUMBR OF WAYS IN WHICH WE CUD ACT 2 EAES FINANCIAL CONDITIONS FURTHER!111!1!! LOL ON3 OPTION WUD B 2 PROVIED MORE AXPLICIT GUIDANCE ABOUT TEH P3RIOD OVER WHICH TEH FED3RAL FUNDS RAET AND TEH BALANC3 SHET WUD REMANE AT THERE CURENT LEVALS!!!!!!!11 WTF LOL ANOTHER APROACH WUD B 2 INITIAET MOR3 S3CURITEIS PURCHAESS OR 2 INCRAAES DA AEVRAEG MATURITY OF OUR HOLDNGS!!!!1 OMG TEH FED3RAL RES3RV3 CUD ALSO R3DUCA TEH twenty-five BASIS POINT RAET OF INTEREST IT PAYS 2 BANKS ON THEYRE RAS3RV3S THERABY PUTNG DOWNWARD PR3SUR3 ON SHORT-T3RM RAETS MOR3 GENERALY!1!11!!1 OMG OF COURS3 OUR AXPEREINCE WIT THESE POLICEIS REMANES RELATIEVLEY LIMIETD AND 3MPLOYNG THEM WUD ANTALE POTENTIAL RISKS AND COSTS!1!11 LOL HOWEVER PRUD3NT PLANNG REQUIERS TAHT WE EVALUAET DA EFICACY OF THASE AND OTHER POTANTIAL ALTERNATIEVS FOR D3PLOYNG ADITIONAL STIMULUS IF CONDITIONS WARANT ON!!!11!!1 LOL DA OTHER HAND DA 3CONOMY CUD 3VOLVA IN A WAY TAHT WUD WARANT A MOVE 2WARD L3S-ACOMODATIEV POLICY!11!!1! OMG WTF ACORDNGLEY TEH COMITE HAS BAN GIVNG CAERFUL CONSIEDRATION 2 DA ELAMANTS OF ITS AXIT STRAETGY AND AS RAPORTAD IN DA MINUTAS OF TEH JUNE FOMC METNG IT HAS REACH3D A BROAD CONS3NSUS ABOUT DA S3QUENC3 OF STEPS TAHT IT 3XPECTS 2 FOLOW WHEN DA NORMALIZATION OF POLICY BCOMES APROPRIAET!1111! WTF IN BREIF WHAN ECONOMIC CONDITIONS WARANT TEH COMITE WUD BGIN TEH NORMALIZATION PROCES BY C3ASNG TEH REINVESTMENT OF PRINCIPAL PAYMANTS ON ITS SECURITEIS THERABY ALOWNG TEH F3DERAL RES3RVAS BALANCE SHET 2 BGIN SHRINKNG!!!11 OMG WTF AT DA SME TIEM OR SOMETIEM THAR3AFT3R DA COMITE WUD MODIFY TEH FORWARD GUIDANCE IN ITS STAETM3NT!!!!1!!!!
SUBSAQUENT STAPS WUD INCLUDE TEH INITIATION OF TEMPORARY RAS3RVE-DRANENG OPERATIONS AND WH3N CONDITIONS WARANT INCRAAESS IN DA FEDERAL FUNDS RAET TARG3T!11111 FROM TAHT POINT ON CHANGNG DA L3VEL OR RANGA OF DA FEDERAL FUNDS RAET TARGAT WUD B OUR PRIMARY MEANS OF ADJUSTNG TEH STANCE OF MON3TARY POLICY IN R3SPONS3 2 3CONOMIC DAVELOPMENTS SOMATIEM!!111! AFTAR DA FIRST INCR3AES IN DA F3D3RAL FUNDS RAET TARGET TEH COMITE EXPECTS 2 INITIAET SAELS OF AEGNCY SACURITEIS FROM ITS PORTFOLIO WIT DA TIMNG AND PAEC OF SAELS CL3ARLEY COMUNICAETD 2 TEH PUBLIC IN ADVANCA!!!1! OMG WTF LOL ONCA SAELS BGIN TEH PAEC OF SAELS SI ANTICIPAETD 2 B R3LATIEVLEY GRADUAL AND STEADY BUT IT CUD B ADJUSTAD UP OR DOWN IN RESPONS3 2 M8RIAL CHANGES IN TEH ECONOMIC OUTLOK OR FINANCIAL CONDITIONS!!1!!1 OMG OVAR TIEM DA SECURITEIS PORTFOLIO AND DA ASOCIAETD QUANTITY OF BANK RESERV3S R EXPECTAD 2 B RADUC3D 2 DA MINIMUM L3V3LS CONSIST3NT WIT DA EFICEINT IMPL3MENTATION OF MONETARY POLICY!!1!1 OMG OF COURSE CONDITIONS CAN CHANGE AND IN CHOSNG TEH TIEM 2 BGIN POLICY NORMALIZATION AS W3L AS DA PAEC OF TAHT PROCES SHUD TAHT B TEH NEXT DIERCTION FOR POLICY W3 WUD CAERFULY CONSIEDR BOTH PARTS OF OUR DUAL MANDAET THANK!!!!! WTF U!11!!!11
LOL we WUD B PLZ 2 TAEK UR QU3STIONS !!!!!1! LOL
“All a perplexities, difficulty as well as trouble in America arise, not from defects in their Constitution or Confederation, not from wish of respect or virtue, so most as from a officious stupidity of a inlet of coin, credit as well as circulation.” -John Adams
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