The Fed Will Try to Make Sure Obama Wins in 2012 – so get to work!

April 29, 2011 04:34


Thanos Papasavvas, the head of currency management at Investec Asset Management says the Fed will prop up the economy to help elect Obama.

By: Patrick Allen at CNBC

EXCERPTS:

“History is very much on the side of the incumbent President and unless we have a double-dip recession with a significant increase in unemployment I don’t believe Obama will lose 2012,” Papasavvas said in an interview with CNBC on Thursday.

“On the economic side, any signs of a deteriorating economic environment will see the Fed enacting QE3 (the third round of quantitative easing, or creating money) and hence indirectly reducing the probability of the economy derailing Obama,” Papasavvas added.

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