FOMC Press Release
Release Date: April 25, 2012
For immediate release
Information received since the Federal Open Market Committee met in March suggests that the economy has been expanding moderately. Labor market conditions have improved in recent months; the unemployment rate has declined but remains elevated. Household spending and business fixed investment have continued to advance. Despite some signs of improvement, the housing sector remains depressed. Inflation has picked up somewhat, mainly reflecting higher prices of crude oil and gasoline. However, longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects economic growth to remain moderate over coming quarters and then to pick up gradually. Consequently, the Committee anticipates that the unemployment rate will decline gradually toward levels that it judges to be consistent with its dual mandate. Strains in global financial markets continue to pose significant downside risks to the economic outlook. The increase in oil and gasoline prices earlier this year is expected to affect inflation only temporarily, and the Committee anticipates that subsequently inflation will run at or below the rate that it judges most consistent with its dual mandate.
To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee expects to maintain a highly accommodative stance for monetary policy. In particular, the Committee decided today to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that economic conditions–including low rates of resource utilization and a subdued outlook for inflation over the medium run–are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014.
The Committee also decided to continue its program to extend the average maturity of its holdings of securities as announced in September. The Committee is maintaining its existing policies of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. The Committee will regularly review the size and composition of its securities holdings and is prepared to adjust those holdings as appropriate to promote a stronger economic recovery in a context of price stability.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Dennis P. Lockhart; Sandra Pianalto; Sarah Bloom Raskin; Daniel K. Tarullo; John C. Williams; and Janet L. Yellen. Voting against the action was Jeffrey M. Lacker, who does not anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate through late 2014.
The Butcher of Libya, Bernard Levy Says-Marine Le Pen Must Not Be Allowed to Benefit From Her Victory
Better you should be arrested Mr. Levy for war crimes and fomenting the Libya Civil war for the Anglo-Zionists of London. Levy is a pig of the first order. A fake intellectual like Noam Chomosky. A gate keeper of thoughts. Only a child would be fooled by this evil and malicious imbecile, given front page on the Hebrew Ariana Huffington Press. This man is a bastard of the first order and war criminal. He should be universally scorned. The global Zionists like him should be seen for the devil and satanists they are. No more thought control Bernard, no more lies , no more bloody wars for the Anglosaxon-Hebrew empire! Get out of France you pig and go to London and take Sarkozy with you! There Putin can deal with your antichrist ideals.
Merkel Backs Draghis Call for Growth
Chancellor Angela Merkel backed European Central Bank President Mario Draghi’s call to focus on spurring economic growth, as German officials rejected charges they are fixated on budget austerity to fight the debt crisis.
Europe needs growth “in the way that Mario Draghi, the president of the European Central Bank, said it today, that is in the form of structural reforms,” Merkel told a conference of her Christian Democratic bloc in Berlin today..
Sarkozy , aka Le Nez, aka the Lying Midget, aka the Rothschilds Stooge Rejects Calls from Supporters for a National Front Alliance- Panders to Muslim Illegal Immigrants…Freak Show!!
– Sarkozy prohibits pact with National Front
– Sarkozy says he has a duty to hear the message of Le Pen voters
– Sarkozy makes advances to low income workers
(Adds detail, comments from Marine Le Pen, background.)
By William Horobin
Of DOW JONES NEWSWIRES
PARIS (Dow Jones)–French President Nicolas Sarkozy said Wednesday there will be no pact between his party and the National Front, but he pledged not to ignore the voters who propelled Marine Le Pen to an unexpectedly large share of the vote in the first round of elections.
Both Sarkozy and his Socialist rival Francois Hollande garnered more votes than Le Pen on Sunday, but the National Front leader picked up nearly 18% support.
As Sarkozy goes head-to-head in an election runoff May 6 with Hollande, he will need to pick up a large portion of the votes that went to Le Pen if he is to win. Polls show that, for the moment, he won’t succeed in doing so and Hollande will win by a clear margin.
“There won’t be an accord with the National Front. There won’t be any National Front ministers,” Sarkozy said on French radio station France Info, but he indicated he would be willing to offer a hand to Le Pen’s supporters.
Le Pen has now shifted much of her focus to legislative elections that take place in two rounds June 10 and June 17, hoping momentum will carry through from the presidential campaign.
Sarkozy argued that his supporters won’t have to choose between the far right and a Socialist candidate in the legislative elections because only 12.5% of the vote is needed to get through to the second round. “We will have candidates everywhere,” he said.
Meanwhile, Sarkozy continued to make advances to Le Pen voters.
“I refuse to demonize men and women who, by voting for Marine Le Pen, have expressed a crisis vote, a crisis vote, a despair vote, a vote of anger,” Sarkozy said.
“I must take that into account. I must listen to them, I must hear them,” Sarkozy said.
At a campaign rally Tuesday, Sarkozy swung further to the right, staking out territory on immigration and ideas of nation and identity. He proposed making a French-language exam mandatory for foreigners wanting to settle in France, and said he would restrict access to social welfare for those who haven’t been in the country for at least 10 years and spent five of those years in work.
Hollande has said he would seek to win over those who expressed their dissatisfaction with the state of the economy and the handling of the euro-zone crisis via a vote for Le Pen, though he is less dependent on the decisions of Le Pen’s supporters because he already has a substantial reservoir of votes from leftist candidates who have pledged to support him in the second round.
Le Pen has indicated she won’t be lured into backing either of the two remaining presidential candidates. In an interview Wednesday with regional paper Nice Matin, she says she doesn’t want to see victory or defeat for either candidate and describes Hollande as the “real enemy” and Sarkozy as the “false friend.”
In his radio interview Wednesday, Sarkozy went after votes from low-income earners as he explained his intention to hold a rally May 1 for “real work,” which would clash with the traditional May Day rallies of the unions.
“My concern is poor workers,” Sarkozy said. “When the crisis hits, it hits those working in business and industry harder than those who work for the state, which protects them.”
Dutch Crisis Deepens
(No wonder the Illuminati staged that train accident. Its been one of their favorite demonic tools to get Satan working to hold their satanic EU together. The illuminati and that would be lead by the English Crown, Dutch Crown and Spanish crown have their satanic secret police commit these murders for ritual sacrifice when things don’t go well. Dutch Engineer screwed up the Crown’s plans in Holland. This Dutch nationalism movement to bug out from the EU has been a long time brewing. It reminds me of Argentina mysterious train crash as this Argentina versus Respol/BP thing has been brewing for the last 18 months. The Dutch need to arrest the Crown and try them for their part in the running the global Ecstasy trade. Send us no more of your silly female Home Economics teachers you Hollanders ,nor any more Dutch Porn. Thank you! )
(Reuters) – The biggest Dutch opposition parties refused on Tuesday to back austerity cuts needed to meet EU budget targets after the government fell, deepening the crisis in a nation probably facing a long period of uncertainty until elections.
Prime Minister Mark Rutte, whose minority government collapsed on Monday, must now turn to a clutch of tiny parties for help if he is to have any chance of forcing his plan for 14 to 16 billion euros in budget cuts through parliament.
With doubts growing across Europe about the price of austerity, parties to Rutte’s left said trying to meet the European Union’s deficit target would hurt the economy and the Dutch people.
To Rutte’s right, Freedom Party leader Geert Wilders – who brought down the coalition by refusing to support the cuts – declared that the elections would be a referendum on the EU and Dutch sovereignty.
Cost of Spain’s Housing Bust Could Force a Bailout
Hollande Takes On the Popular Merkel
“Merkel has led Europe with Sarkozy and we can measure the results,” he said late yesterday on France’s TF1 television. “If I am elected president, there will be a change in the focus of Europe’s construction. Enough free market, limitless competition, enough austerity.”