Biotech Values

[zipjet]

I'm not one bit surprised that the Fed is "staying the course" considering it isn't working at all.

So Fed is irrational? They just keep doing something that is NOT working?

All the FED is really doing is monetizing the public debt which be felt down the road in future inflation.

Not really, unless you think that YOY M2 up 2.7% constitutes monetizing the debt:

http://research.stlouisfed.org/publications/usfd/page6.pdf

Nor is the effect of QE2 limited to the effects you note. It also has made home financing cheaper, puts downward pressure on the exchange rate, tends to reduce the trade deficit, tends to reduce the current accounts deficit, is reducing the treasury to corporate spread, and is coercing investors out the risk spectrum.

Considering that the Fed is buying about $800 to $900 Billion in treasuries over a six month

I think they only announced the plan to purchase $600M. There is no need to alter the facts to support your errors.

ij