Ron Paul Reacts to QE3

Sept. 13 (Bloomberg) — Texas Representative Ron Paul discusses his reaction to Federal stimuli. He speaks with Trish Regan on Bloomberg Television.

The Federal Reserve fulfilled expectations of more stimulus for the faltering economy, taking aim now at driving down mortgage rates until an improvement in unemployment that the central bank says will be a problem for several years.

The Fed said it will buy $40 billion of mortgage-backed securities per month in an attempt to foster a nascent recovery in the real estate market.

The purchases will be open-ended, meaning that they will continue until the Fed is satisfied that economic conditions, primarily in unemployment, improve…

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