"(QE3) is explicitly linked to what happens with the economy," says San Francisco Fed President Williams. The MBS purchases will continue or even expand to include other assets "until the job market looks substantially healthier." Sounding like he believes what he is saying, Williams calls the program an "automatic stabilizer," able to be tweaked depending on the fickle statistics-based surveys of the BLS each month.
"(QE3) is explicitly linked to what happens with the economy," says San Francisco Fed President...
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