Since 2006 til now, the Fed has purchased $2.3 trillion in Treasuries and mortgage debt in the first two rounds of quantitative easing (QE). The thought here is that these policies will lower the interest rates, giving businesses and consumers access to cheaper credit.
One of the members of the 10 person Federal Open Market Committtee who believes that the Feds have bought enough mortgage relief and that the economy will rebound by itself and that interest rates will climb. Guess time will tell.
What do you think?