A tightening. We dont think theres an inflation problem or anything like that. On the one hand, asset purchases are still going to be continuing. Well still be building our Balance Sheet. The total amount of assets we acquire are probably more certainly monday than was expected in september 2012 or june 2013, so well have a very substantial Balance Sheet, which well continue to hold. And now weve clarified our guidance that we will be keeping rates low well past unemployment of 6. 5 . So, were trying here to get a high level of accommodation. It is true that the purchases are we view as supplementary to the Interest Rate policy. But again, the action today is intended to keep the level of accommodation more or less the same overall and enough to push the economy forward. Dow jones. In an earlier response you sort of laid out the argument or sort of explained why the committee didnt lower the 6. 5 unemployment threshold. Is that conversation over . Have you all put off the table changin
Support is the committees outlook, we will likely reduce the securities purchases in further measured steps at future meetings. Of course, continued progress is by no means certain. Consequently, future be adjustments to the pace of asset purchases will be deliberate and dependent on incoming information. Host so, greg ip of the economist, what does all of that mean to the average american . Guest well, so take the most basic aspect of that. One of the aims of the bondbuying program was to hold down longterm treasury yields. Essentially, when you buy a bond, you push up the price, and that pushes down the Interest Rate on it, and because Mortgage Rates are usually linked closely to 3w07bd yield, the more are bought, the more it held down Interest Rates. Over the last eight months as the market became aware the Federal Reserve pulled back on this program, we saw some rebound in mortgage Interest Rates. What mr. Bernanke hope is the that by gradually continuing the process over the comin
The political system. Its difficult to see a way without a constitutional change. And so theyve done lasting damage to it, and i hope that we will see some change. Do i think thats going to happen . Im not going to bet the ranch on it. [inaudible] im executive director of great teaching llc. In an era where it seems, it would seem that Union Membership would grow very fast, its not. Whats the mentality out there that is holding them back . And how do you intend on battling at . First of all, you dont have to take my word for this. International groups study these things and they think that the labor laws in this country are woeful. You have a significant intimidation, and ill tell you what happens. Not just one comment are between 2530,000 workers who get fired illegally each year for trying to organize. So think about this. Youre in a job, tough economy, there arent many jobs out there. You want to organize because your employer, for whatever reason, you think youre not getting enough
Off more than expected. The spot is slipping below the offer price. And we are joined by telenors ceo live later on in the program. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Hello, everyone. Youre watching worldwide exchange. Good morning to you, carolin. Its the end of the week. We made it through. Yes, we did. Weve got the speculation about shrine thats sending markets higher. And were still hoping for a miracle after yesterdays defeat. Down, but not out. Lets show you whats coming up on todays show. We have a jampacked show for you. Business success is putting cold, hard cash in their pockets. We look at how the region is giving a boost to scandinavian tourism. And are you too cool to cash . We look at the latest innovations that are encouraging us to ditch the coins and notes. And mobile. Rumors about the launch for the new smart wash as production is set to start next month. We take a look at the word on the street coming up lat
Its 8 30, on sunday august 11th. Im anne makovec. Im phil. There is no deal on the bat contract negotiations. The governor had is heading to the court in less than a half an hour and anything a 60day cooling off period that would stop Union Workers from walking off the job tomorrow morning and located preview how we got to this point. First both sides messed the contract deadline. The workers went on strike the next day and that left hundreds of thousands stuck in massive traffic for four days. A 30day contract extension brought a suggest second deadline. A cooling off period might be around the corner. And were here to get a deal. That is why were here. And things are happening. I think the unions want to look at things and see costing of proposal. Well see why where it goes. Reporter b. A. R. T. And Union Negotiators took a break before midnight. The governor steps in with his big push to block the fight. The statement, the San Francisco superior county courthouse. The request, a 60d