Obama defends Fed decision

[The Northerner]

President Obama has defended the Federal Reserve’s decision to pump another $600 billion into world markets.

Asked at a Monday press conference in India about the decision, which has been criticized abroad and by Republicans in Congress, Obama said the Fed’s intention was to promote growth in the U.S. economy, which would be good for the global economy.

“The worst thing that could happen to the world economy, not ours, not just ours, but the entire world’s economy, is if we end up being stuck with no growth or very limited growth,” Obama said. “And I think that’s the Fed’s concern, and that’s my concern as well.”

Obama received some backing from Indian Prime Minister Manmohan Singh.

“I don’t claim to have any expert knowledge of the workings of the American economy. But I do know one thing: that a strong, robust, fast-growing United States in in the interests of the world.” Singh said.

Read more: http://thehill.com/homenews/administration/128113-obama-defends-fed-decision

[EFerrari]

1. Would someone please explain to me in what sense this money is going

into the economy?