After saying buying our own debt won’t ever be done, he does just that. There are limits to what monetary policy can do.
Federal Reserve Chairman Ben S. Bernanke will probably forgo announcing a third round of large- scale asset purchases this week, and is more likely to wait until September to unveil plans to buy $600 billion in housing and government debt, according to median estimates of economists in a Bloomberg News survey.
Eighty-eight percent of economists say the Federal Open Market Committee will refrain from starting new purchases at a two-day meeting that began today in Washington. Forty-eight percent say the FOMC will announce the buying at its Sept. 12-13 meeting, according to the July 25-27 survey of 58 economists.