The Federal Reserve has not “run out of bullets,” and a third round of quantitative easing (QE3) is possible, according to New York Fed President William Dudley.
In a speech this week at the Bronx Chamber of Commerce, Dudley refuted calls that the U.S. central bank has run out of monetary policy tools to effectively stimulate the economy.
“It’s possible that we could do another round of quantitative easing, we could do quantitative easing round three,” Dudley stated.
Dudley – a voting member of the Federal Open Market Committee and one of the foremost dovish central bankers alongside Chairman Ben Bernanke – also mentioned committing to near-zero interest rates for a longer period of time as another potential strategy.
However, he did acknolwedge that “There are a number of things we could do to provide greater stimulus but there are costs associated with each of them.”
The full text of Dudley’s prepared remarks is available below at the New York Fed’s website:
http://www.newyorkfed.org/newsevents/speeches/2011/dud111024b.html
Colossus Minerals Raises C$75M for Serra Pelada Project
Colossus intends to use the net proceeds of the offering to fund advancement of its flagship Serra Pelada Gold-Platinum-Palladium Project in Brazil, as well as for general corporate purposes including working capital. Full Colossus Minerals News Release.
- The Notes will mature on December 31, 2016 and will bear interest, accruing and calculated and payable semi-annually in arrears on June 30 and December 31 of each year, at a rate of between 6% and 13%, dependent on the simple average of the London PM Gold Fixing Price.
- The Notes will yield 9.0% based on the current London PM Gold Fixing Price.
- Each Warrant will entitle the holder to acquire one common share of CSI.TSX at a price of C$8.50 for a period of five years following the closing date of the financing.
