“If the outlook for the labor market does not improve substantially, the committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases and employ its other policy tools as appropriate”
Those are Bernanke’s words. I feel really happy about this, it is one of those times in the human History where you see someone doing the difference. In an age where I do not see any leadership and most man seem afraid to act, it is great to see the central bankers (Draghi and Bernanke) playing the hero roles.
The concerted actions of the ECB and the Fed will have impact in the markets and in the economy. The problems of the contemporary economy have become more sophisticated, but so have the tools available. No one knows for sure the impact that those measures will have in the economy for the years to come, but what I do know is that, at least in Europe, we are getting in an infernal spiral of unemployment and recession.