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Called q e-3 in washington speak. translation, the bank will print more money to buy what could be hundreds of billions of bonds or mortgage debt. this on top of the $2.3 trillion the fed has already spent trying to get more americans working. how? well, the aim is to lower long-term interest rates and stimulate more businesses and consumers to borrow and spend. jump starting the recovery. yet a new bond buying binge means printing more money as our national debt tops $16 trillion and there is plenty it of disagreement about whether it will work anyway. with unemployment stubbornly above 8% it is not clear past efforts have. although banks mae have more money to lend they haven t been quick to do so. and even if businesses and consumers have more cash they don t seem ready to spend with so much uncertainty about economic policy after the election. plus, this kind of move by the fed could also take the heat off those really in charge of getting the economy going, congress and the white ....
Which involves billions and billions of dollars in bonds being purchased to keep interest rates low. governor romney said do not do this. you know, i don t think qe-2 was terribly effective. qe-3 and another that stimulus is not to help this economy. that is the wrong way to go. i think that it also sees the kind of potential for inflation down the road that would be harmful to the value of the dollar, nothing harmful to this development and stability that our nation needs. reporter: governor romney also stands on supporting ben bernanke. not that ben bernanke is looking for that, romney said regardless committee does not want to keep ben bernanke in that position. earlier this week, one of his top economic advisers, glenn hubbard at columbia university, said that mitt romney should reconsider that position. that mitt romney told us yesterday, no way. he will not reconsider. ....
Slightly lower. we ll get answers to this come 2:00 when we get the minutes from the last fed meeting and what wall street really wants to see are the details of who is arguing back and forth. we know a lot of voting members are split. we know there s been a lot of discussion. individual members have come out and made their thoughts clear. you have hawks and you have doves on the board. when we get a look at this we ll get a feel for how the balance plays out among voting members but what discussions are taking place as to how exactly a qe-3 would come about. how would quantitative easing come about? will they buy more mortgages or do other things along those lines? we re waiting to hear this because we have seen better economic news since that date. that s why people are wondering if these minutes are going to tell us the reality of what s happening right now. the biggest thing is trying to figure out which members want what and how that argument plays out. we ll get those thoughts la ....
Bears. how are you. hi. patti ann: we got the good news about jobs created and the bad news, the unemployment rate, 8.3%, why the market optimism. basically there were more jobs created than had been expected. and but not so many that it would basically take away any hopes that the fed might move in, jump-start the economy. or that european authorities would also do something to resolve the whole debt mess, take more aggressive action and so it was just enough jobs to make us feel a little renewed hope about the economy, but, not so many that it would take away any chance that the fed would move. patti ann: yeah, in fact when friday s numbers came out some analysts said the markets are happy because the news was just slightly disappointing and, that might prompt the fed chair, ben bernanke, to consider measures like qe-3, another round of quantative easing which would be good for stocks but bad for the ....
taxes and deficits when she should be focused on how to create the best environment for job creation, job creation is the single most important matter facing america right now. not taxes, not deficits, not debt, and not health care. in july the unemployment rate ticked up to 8.3%. don t worry too much about. that look at the right side of your screen. 163,000 jobs were added to the economy. but 12.8 million americans are still without a job and looking for work and close to a third of those who are employed hold lower paying jobs with little hope of wage increases any time soon. now in a real storm the worst thing that can happen is you lose your home. in an economic storm, the worst thing that can happen is you lose your job. lose your job and you lose the tool that helps you prosper. if others lose their job, that keeps your wages low. without real job creation, america cannot prosper. here s why jobs are more important than debt and deficit and tax reform. when you h ....