Rep. Kucinich to hold hearing on Fed effort to boost economy

[The Northerner]

Rep. Dennis Kucinich (D-Ohio) will hold a Nov. 30 hearing exploring the economic justification and likely effects of the Federal Reserve's second quantitative easing effort.

The hearing will explore the Fed's decision to buy $600 billion in long-term Treasury bonds to boost the economy and lower unemployment by sparking lending. The policy is known as quantitative easing or "QE2" because it represents the second time since the financial crisis that the Fed has tried to lift the economy by purchasing Treasury bonds.

Kucinich, a maverick liberal who has been a longtime critic of the Fed, is holding the hearing "in light of massive unemployment and the seeming inability of government to invest in infrastructure or to intervene to stop the loss of jobs," according to an announcement released by his office.

It said Kucinich would look at ways to boost the U.S. economy through "changes in the role of the Fed." Kucinich is chairman of the Domestic Policy Subcommittee of the Oversight and Government Reform Committee.

The hearing will also delve into the transparency of the Fed's operations, its accountability, and its dual mandate to maximize employment and minimize inflation.

Read more: http://thehill.com/blogs/on-the-money/banking-financial-institutions/130561-kucinich-to-explore-qe2


Thank you, Rep. Kucinich!

[Greyhound]

1. K&R. Still trying to do the people's work. n/t

[Greyhound]

2. K&R. Still trying to do the people's work. n/t

[Forkboy]

3. UFO!!! Young wife!!!!

Just getting those tired old chestnuts out of the way early. :)

[NorthCarolina]

4. Does anyone even pay attention to the ass clowns peddling that lame BS anymore? nt

[flvegan]

5. K&R!