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Fed to Keep Shooting Blanks at Economy….

I feel like that’s what the headline of this article should have been….

“It is possible that Fed officials might deviate in size from the $45 billion in monthly Treasury purchases—and $85 billion in all when mortgage securities are counted—but a big change from that amount looks unlikely. “The composition of the purchases, roughly 50-50 between (mortgages) and long-term Treasurys, is a good one,” Mr. Williams said.

The central bank faces considerable uncertainty about the economic outlook. If the economy tumbles over the fiscal cliff and into recession, Mr. Bernanke has said there is little the Fed could do to offset such a shock.”


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