IN addition to the Fed's reluctance to start another bond-buying effort, the European Central Bank is also not expected to continue its current program of purchasing the bonds of weak euro zone economies for much longer.
As a result, he said, stocks in economically sensitive sectors like industrials and materials would probably show improvement, while the dollar was likely to decline as the Federal Reserve pursued its quantitative easing program of purchasing government securities.
Another issue at the forefront was land reform the government program of purchasing farmland owned by the white minority and redistributing it to the historically disadvantaged and landless black Namibians.
By contrast, long-term rates are rising because the central bank's current program of purchasing $85 billion a month in Treasury securities and mortgage bonds is expected to start tapering off later this year, if the economy continues to recover.
Low-interest government loans to peasants were instituted, new land surveys were made to correct tax inequities, and government revenues were increased by a program of purchasing manufactured specialties in one region and selling them in another.
BK is one of Edwards' major national contracts, where the company provides Burger King with assistance in marketing programs, point-of-purchase advertising materials, market research, and other resources.
And the Fed's purchases of mortgage-backed securities – which would likely be expanded as part of any new program of asset purchases – are similar in spirit.
Mr. Rosengren said he did not have a firm view on what kind of measuring stick the Fed should use for a new program of asset purchases.
