Why QE3 Isn't Working
This is the third in a series of columns you can read here and here.
One of the primary reasons the Federal Reserve's monthly purchase of $40 billion worth of agency mortgage-backed securities, known as QE3, isn't working to successfully drive housing and the economy as intended is because of the large number of mortgagors who cannot take advantage of the low rates offered by the Fed program. This isn't the Fed's fault, but the Fed will have to address this issue as it relates to future monetary policy....544 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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