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News Link • Economy - Economics USA

Meredith Whitney: 2 Million State & Local Job Cuts

The second leg Federal Reserve policy to stimulate growth and drive down rates by buying Treasurys—a program often referred to as quantitative easing, or QE—isn't helping, she said. "It seems as if the market expects Oprah Winfrey to jump out of a cake and give away free cars with QE2," Whitney said. "Does QE2 help middle America? No, it just makes everything more expensive for middle America. I think that is a complicated policy and a dangerous policy to take things that much further."

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