Quantitative easing Federal Reserve announcement - KNOE 8 News; KNOE-TV; KNOE.com |

Quantitative easing Federal Reserve announcement

Posted: Updated:

MONROE, La. (KNOE 8 News) - For the past eight years Ben Bernanke has been the chairman of the U.S. Federal Reserve. Friday will be his last day. Before his work is finished and he gets replaced, he is holding a Federal Reserve meeting. Our Nolan Crane spoke with financial advisors in the Ark-La-Miss who say the purpose of the meeting is to pullout of the stimulus program.

Darren Oglesby makes his living crunching numbers and looking at the stock market as a registered financial consultant in Monroe. He has done his research and spoken with other investors. Everyone agrees the purpose of Wednesday's meeting with Federal Reserve Chairman Ben Bernanke is to reduce the amount of money in the stimulus program.

"The federal reserve is making a statement that they believe that our economy is strong enough to take some of the stabilization out that they have been injecting," said Darren Oglesby.

The Federal Reserve is currently spending $75 billion a month on the stimulus program. The money is used to extend state run programs including food stamps, unemployment benefits, construction projects and grants that keep people working and making contributions to our economy. Investment manager Steve Mintz in Monroe says it will be a while before the Federal Reserve completely pulls out.

"It's had the pedal to the metal running on the interstate running 90 miles an hour and they are going to cut it back to 80 miles an hour and then 70 and 60," said Mintz.

A lot of stocks have seen an up-tick since the recession representing a stronger U.S. economy. Predicting the future is impossible but advisors say its possible quantitative easing could cause a shift in the market.

"I think that the stock market over the next year or two is going to under perform the performance it's had since this rally started in March 2009. It doesn't mean that it will not be up, but I don't think it's going to be the percentage type that it's been four or five years on average," said Steve Mintz.

Ben Bernanke says the goal is to reduce spending and funding and let the market sustain itself.

His last day as the Federal Reserve chairman is Friday. For the first time ever a women, Janet Yellen will hold the position.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Cops Producers Talk About Crewmember

    Cops Producers Talk About Crewmember

    Thursday, August 28 2014 11:21 AM EDT2014-08-28 15:21:56 GMT
    Omaha, NE(AP)- Omaha police say officers' gunfire killed a 'Cops' television show crew member and a robbery suspect at a fast-food restaurant.
    Omaha, NE(AP)- Omaha police say officers' gunfire killed a 'Cops' television show crew member and a robbery suspect at a fast-food restaurant.
  • Gun company cuts ties with reality TV star

    Gun company cuts ties with reality TV star

    Thursday, August 28 2014 1:59 PM EDT2014-08-28 17:59:12 GMT
    BATON ROUGE, La. (AP) - A firearms company affiliated with reality TV star Will Hayden is distancing itself from him after his arrest on rape charges. In a statement on its website, Red Jacket Firearms LLC says it has legally separated from Hayden.
    BATON ROUGE, La. (AP) - A firearms company affiliated with reality TV star Will Hayden is distancing itself from him after his arrest on rape charges. In a statement on its website, Red Jacket Firearms LLC says it has legally separated from Hayden.
  • Monday Update: Pastor's daughter dies, other teen seriously injured in swimming accident

    Monday Update: Pastor's daughter dies, other teen seriously injured in swimming accident

    Monday, August 25 2014 7:22 PM EDT2014-08-25 23:22:33 GMT
    TENSAS PARISH, La. (KNOE 8 News) - KNOE 8 News has learned that four minors from West Monroe were hurt in a Tensas Parish accident. This happened at Lake Bruin in Tensas Parish. Officials tell KNOE it was part of a summer youth group trip at First United Methodist Church in West Monroe.
    MONDAY UPDATE: Tensas Parish Sheriff Rickey Jones tells KNOE, the second girl seriously injured in the Sunday afternoon accident is Christina Elizarov. Jones says 17-year-old Christina is listed in stable condition at Rapides General Hospital.
  • Teacher accused of having sex with 2 students

    Teacher accused of having sex with 2 students

    Thursday, August 28 2014 9:53 AM EDT2014-08-28 13:53:04 GMT
    BATON ROUGE, La. (AP) - Riverdale Christian Academy administrators have fired English teacher Ashley Dowden following her confession to deputies that she had sex with a 16-year-old student.
    BATON ROUGE, La. (AP) - Riverdale Christian Academy administrators have fired English teacher Ashley Dowden following her confession to deputies that she had sex with a 16-year-old student.
  • Jonesville man arrested after explosion in wife's car

    Jonesville man arrested after explosion in wife's car

    Monday, August 25 2014 10:15 PM EDT2014-08-26 02:15:52 GMT
    JONESVILLE, La. (KNOE 8 News) - Catahoula Parish Sheriff's Office has arrested a Jonesville man after an explosion in his wife's car Monday morning.
    JONESVILLE, La. (KNOE 8 News) - Catahoula Parish Sheriff's Office has arrested a Jonesville man after an explosion in his wife's car Monday morning.
  • Local Red Cross Chapter slashed in cutbacks

    Local Red Cross Chapter slashed in cutbacks

    Thursday, August 28 2014 2:22 PM EDT2014-08-28 18:22:44 GMT
    MONROE, La. (KNOE 8 News) - Big changes at the American Red Cross on a national level are having an effect on local staffing. As part of restructuring, the Northeast Louisiana Chapter based in Monroe is loosing its executive director and three other full time employees.
    MONROE, La. (KNOE 8 News) - Big changes at the American Red Cross on a national level are having an effect on local staffing. As part of restructuring, the Northeast Louisiana Chapter based in Monroe is loosing its executive director and three other full time employees.
  • Attorney says man did not commit suicide while in police custody

    Attorney says man did not commit suicide while in police custody

    Wednesday, August 27 2014 11:16 PM EDT2014-08-28 03:16:42 GMT
    New Iberia, La. (KNOE 8 News) - It's a local story making national news. Monroe-based attorney Carol Powell Lexing is representing the family of Victor White III, who died while in custody of the New Iberia Parish Sheriff's Office on March 3. 
    New Iberia, La. (KNOE 8 News) - It's a local story making national news. Monroe-based attorney Carol Powell Lexing is representing the family of Victor White III, who died while in custody of the New Iberia Parish Sheriff's Office on March 3. 
  • Jolie, Pitt wed in Chateau Miraval, France

    Jolie, Pitt wed in Chateau Miraval, France

    Thursday, August 28 2014 11:46 AM EDT2014-08-28 15:46:59 GMT
    NEW YORK (AP) - Angelina Jolie and Brad Pitt were married Saturday in Chateau Miraval, France, says a spokesman for the couple.
    NEW YORK (AP) - Angelina Jolie and Brad Pitt were married Saturday in Chateau Miraval, France, says a spokesman for the couple.
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KNOE. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.