Nothing like being excited on how money being spent, trillions in that case, will "CREATE" 3,000,000 jobs just like that. I have never seen such a bunch of fucking optimistic fools thinking they can relieve the economy of its unemployment problems by just showering the entire country with worthless dollars, trillions and trillions of worthless dollars in that matter. I just find this amusing and also confusing how anyone can think they can spend money to create jobs. They will say anything they can to make people believe that the bailout is working, they will tell you that the fed intervention is only a sure thing to turn this economy around when in reality nothing is even working. Look back at every time there has been intervention within the market and look where it has led the economy, asset bubble after asset bubble. The only truth is that this economy only grows through the creation of asset bubbles, that's the only understanding I have grabbed out of the history of intervention by the federal reserve. Bubble ben bernake can think that all the spending in the world is a reward for the economy, but its far from it, very far!!!!! Fed Spending Will Create 3 Million Jobs: Yellen Published: Saturday, 8 Jan 2011 | 5:04 PM ET By: Reuters U.S. Federal Reserve Vice Chair Janet Yellen on Saturday defended the central bank's asset buying, citing an internal study showing the economy will gain 3 million jobs as a result of all of the Fed's purchases. "It will not be a panacea, but I believe it will be effective in fostering maximum employment and price stability," Yellen said in remarks prepared for delivery to the American Economics Conference. Yellen said a simulation approximating the Fed's most recent asset-buying program was shown to generate about 700,000 new jobs. The study goes on to suggest that inflation is currently a percentage point higher than would have been the case, implying that if the Fed had not bought longer-term securities after cutting interest rates to near zero in December 2008, the economy would now be close to a damaging deflationary spiral. Yellen said longer term interest rates are currently lower than they would otherwise have been. Concerns about the Fed's controversial $600 billion bond-buying programâthat it will cause inflation, imbalances, and trigger a damaging competitive currency devaluationâare misplaced, she said.