http://www.marketwatch.com/story/atlanta-feds-lockhart-hints-at-qe3-support-2012-07-13?link=MW_latest_news
Atlanta Fed President Dennis Lockhart on Friday, a key swing voter on
the Federal Open Market Committee, signaled support for more action by
the Federal Reserve if the economy doesn't show signs of improving. "My
support for the current stance of policy rests on a forecast that sees a
step-up of output and employment growth by year-end and into 2013. If
the economy continues on the track indicated by the most recent incoming
data and information, that forecast will become untenable, as will the
policy premises underlying it," he said in a speech to the Mississippi
Economic Council. While he says the effectiveness of more action would
be "modest" and not a "miracle cure," he also said it doesn't mean
monetary policy is impotent. Further use of the balance sheet brings
"manageable risks," he said
Gold is a buy here.
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