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3 Million Jobs: Fed Governor Spins Propaganda On Quantitative Easing

Fed Governor Janet Yellen is bragging about the number of jobs the Fed is going to create because of its Quantitative Easing programs. Please consider Yellen Says Fed Asset Purchases Create 3 Million Private Jobs The Federal Reserve’s two rounds of asset purchases totaling $2.3 trillion will have helped boost private payrolls by about 3 million jobs by 2012, said Fed Vice Chairman Janet Yellen, citing research by four central bank economists. Policy makers’ November decision to start a second round of asset purchases of $600 billion through June “is intended to support economic recovery from an exceptionally deep recession,” the 64-year-old central banker said in the text of a speech today in Denver. “I believe it will be effective in fostering maximum employment and price stability.”

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