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To Monetary Policy. Rates will be staying where they are right now, which is close to zero, of course. Until at the very least the jobless rate falls to 6. 5 . We can only cross our fingers wherefore when that might be. Ben bernanke says these changes will make the central bank more transparent adding they can only help the markets. The central bank ramped up its Asset Purchase Program adding 40 billion to its 40 billion a month purchases of mortgagebacked bonds. He spoke about the objectives during wednesdays news conference. The asset purchases and the rate increases have different objectives. The asset purchases are about creating near term momentum in the economy, trying to strengthen growth and job creation in the near term. And the increases in the federal funds rate are about objectives. On that note, lets get dinos take on the latest move. Grpg month. For you ....
Plus byebye love byebye happyiness they influenced the beatles, the beach boys and the birds. The world mourns the loss of one of the everybodierly brothers. All that and more on cbs this morning saturday. We also have some great guests for you here in the studio 57 this morning. Hes the breakout star of the new coen brothers film, oscar isaac on how his life raddic will i changed after being nominated for a golden globe. Plus he is a hot up and comer in the culinary world and he is still under age 30. Chef jeff marron. Some amazing food. Plus the top story this hour, the amazing blast of winter. At least 16 deaths are blamed on the huge and powerful snowstorms that barreled through the northeast. Now comes the unprecedented cold. Temperatures are expected to plunge well below freezing with subzero windchill readings over the next few days across half the nation. Lets go to lonnie quinn from our cbs affiliate lonnie quinn. I want to complain but then you look at boston and realize it c ....
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