The latest Fed minutes, released Wednesday afternoon, revealed that the Bernanke-led central bank is growing increasingly concerned over the state of the U.S. economy.
Several Federal Open Market Committee (FOMC) members “saw considerable uncertainty surrounding the outlook for a gradual pickup in economic growth,” according to the minutes. Additionally, “Meeting participants generally noted that overall labor market conditions had shown no improvement or had deteriorated in recent months and the unemployment rate remained elevated.”
As for the Federal Reserve’s decision to launch Operation Twist, the minutes disclosed that “Most members judged that additional accommodation could contribute importantly to better outcomes in terms of the Committee’s dual mandate of maximum employment and price stability. Those viewing greater policy accommodation as appropriate at this meeting generally supported a maturity extension program that would combine asset purchases and sales to extend the average maturity of securities held.”
The minutes later disclosed that “Two members said that current conditions and the outlook could justify stronger policy action, but they supported undertaking the maturity extension program at this meeting as it did not rule out additional steps at future meetings.”
The full version of the Fed minutes is available at the Federal Reserve’s website below:
http://www.federalreserve.gov/monetarypolicy/fomcminutes20110921.htm
Platinum Group Metals Purchases Canadian Platinum Project
- The mineralization is in a well-recognized deposit model known as a "Komatiite Hosted" setting.
- The discovery, made during exploration for diamonds, is notable as it is a first for this part of the Northwest Territories.
- The platinum group metals grades are at the top end of the global ranges for the copper nickel mineralization style.
- Platinum Group Metals will utilize the winter season to review and model all of the extensive project data and establish supplies at the exploration camp for a drilling campaign in the spring and summer 2012.
