Wiedemer: Recession Unavoidable Despite QE3

“The Federal Reserve’s attempt to stimulate the economy with a third round of quantitative easing will fail to prevent the country from sliding into a recession, says Robert Wiedemer, financial commentator and best-selling author of “Aftershock.”

To spur recovery, the Fed has announced plans to buy $40 billion in mortgage-backed securities held by banks a month, a monetary policy tool known as quantitative easing.

The Fed added it would continue to sell its short-term Treasury holdings in the market and buy longer-term instruments simultaneously, with the aim of further pushing down interest rates across the economy.”

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