William Dudley, President of the Federal Reserve Bank of New York, said in a speech at the U.S. Military Academy in West Point, NY on Thursday that the U.S. central bank could consider implementing additional quantitative easing measures to help stimulate the nation’s economy.
“I am deeply unhappy with the current forecast of prolonged high unemployment,” he stated, “and will continue to review whether there is more that we could do that would bring more benefit than cost.”
Dudley went on to say that “We could purchase more longer-term financial assets. If additional asset purchases were deemed appropriate, it might make sense to do much of this in the mortgage-backed securities market. This would have a greater direct impact on the housing market and would be less likely to disrupt market functioning compared with further purchases in the Treasury market.”
The full text of Dudley’s speech is available below at the New York Fed’s website:
http://www.newyorkfed.org/newsevents/speeches/2011/dud111117.html
Mines Management Reaches Permitting Milestone at Montanore
If and when Montanore is fully permitted, Mines Management intends to complete rehabilitation and construction of its 14,000 ft. evaluation adit, followed by an underground drilling program. Data obtained from the drilling program will be used to support detailed engineering and development of a feasibility study. Full Mines Manegement Press Release.
- Remaining steps of the permitting process include public review of the SDEIS and comments
- Biological Consultation with the U.S. Dept. of Fish and Wildlife, concluding with a Biological Opinion
- Final Environmental Impact Study, followed by a Record of Decision from the U.S. Forest Service