{"id":32953,"date":"2012-10-15T11:15:08","date_gmt":"2012-10-15T15:15:08","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/2012\/10\/fed-qe3-gets-backing-from-boi-governor\/"},"modified":"2012-10-15T11:15:08","modified_gmt":"2012-10-15T15:15:08","slug":"fed-qe3-gets-backing-from-boi-governor","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/10\/15\/fed-qe3-gets-backing-from-boi-governor\/","title":{"rendered":"Fed QE3 Gets Backing from BOI Governor"},"content":{"rendered":"

By TraderVox.com
\n<\/p>\n

\n\t\"\"Tradervox.com (Dublin) – Stanley Fischer, the Bank of Israel Governor, has expressed his support for the Federal Reserve decision to start a third round of quantitative easing program, saying that the world is on the verge of recession and program like that will help improve global economy. He indicated that the quantitative easing program has strengthened the credibility of the Federal Open Market Committee which deals with policy making. Fischer has indicated that despite the progress made in combating the global recession, the impact has not materialized and continued commitment is required to ensure results are felt.<\/p>\n

\n\tFischer, who was talking at an interview in Tokyo, indicated that by deciding to embark on an open ended program, the Fed has eased worries that it might “run out of ammunition” for fighting the unemployment before achieving its goals. These comments by Fischer have increased concerns about global economic growth, which has been precipitated by the International Monetary Fund projection of economic growth. The organization cut its projection on October 9, warning that unless U.S and Europe deal with their economic crisis, the world might plunge into a recession.<\/p>\n

\n\tAfter the interview, the stocks in Asia remained unchanged, with MSCI Asia Pacific Index dropping marginally by 0.1 percent at 1115hrs in Tokyo. The index dropped sharply last week, making it the sharpest weekly drop since June. The drop came as a result of IMF’s concerns over the global economy. Fischer, noted that the euro region is making headway with plans for fiscal expenditure while the US has improved considerably. He indicated that sentiment in the market have improved considerably, but added that it is still too early to be certain.<\/p>\n

\n\tHis comments have come at a time when Spain is experiencing pressure from EU and global leaders to request for bailout. The EU leaders meet on Thursday where they are expected to discuss Spain and Greece.<\/p>\n

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By TraderVox.com Tradervox.com (Dublin) – Stanley Fischer, the Bank of Israel Governor, has expressed his support for the Federal Reserve decision to start a third round of quantitative easing program, saying that the world is on the verge of recession and program like that will help improve global economy. He indicated that the quantitative easing … <\/p>\n

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