Qe2 when was it announced

This was the first time the three ships were present in the same location. The ship was decommissioned and began her journey to Dubai.

Istithmar planned for the ship to become a permanently docked floating hotel, retail, museum and entertainment destination. However the global recession of seemed to put paid to that idea and the ship has remained in limbo ever since. Again these plans never came to fruition, with the ship remaining in Dubai. However, she did get a little chance to stretch her legs in , when a heavy dust storm broke her moorings and she floated out into the Port Rashid Channel. The next few years continued the trend of false dawns for the ship with plans to relocate to Liverpool and an unidentified Asian location falling through.

Their stop-go monetary policy, where interest rates rose and fell unexpectedly, confused the markets. That created an expectation of ever-higher inflation.

Businesses just kept raising prices to protect themselves from the Fed's inconsistent actions. Volcker ended double-digit inflation by consistently setting public expectations of inflation. QE2 was a creative use of an existing tool. The Fed historically used quantitative easing as part of its expansionary monetary policy.

The Fed used this portfolio to stimulate growth during recessions or slow it down during a bubble. But the financial crisis of exhausted the other Fed tools. The Fed funds rate and the discount rate were already at zero. The Fed was even paying interest on banks' reserve requirements. By November , the Fed realized it needed to step up quantitative easing. It announced the launch of what is now called QE1.

This program was innovative. Thinking the economy was recovering, the Fed cut back on purchases. By August, it reinstated QE1. It reinvested principal payments on agency debt in longer-term Treasurys such as the year note. Federal Reserve Bank of New York. Board of Governors of the Federal Reserve System. World Gold Council. Actively scan device characteristics for identification.

Use precise geolocation data. Select personalised content. Create a personalised content profile. Develop and improve products. List of Partners vendors. QE2 refers to the second round of the Federal Reserve's quantitative easing program that sought to stimulate the U. Treasuries and the reinvestment of proceeds from prior mortgage-backed security purchases. Quantitative easing stimulates an economy through a central bank's purchase of government bonds or other financial assets.

This type of monetary policy increases the money supply and typically raises the risk of inflation. Quantitative easing is not specific to the U. QE2 came at a time when the U. While equity markets had recovered from lows, unemployment remained high at 9. At the time of the announcement, U. Interest rates initially rose after the announcement, with the year yield trading above 3. However, from February , three months after the announcement, the year yield began a two-year year decline, falling basis points to trade under 1.

QE2 was relatively well received, with most economists noting that while asset prices were propped up, the health of the banking sector was still a relative unknown. It was less than two years since the collapse of Lehman Brothers, and with confidence still low, it was prudent to promote investment through cheaper money.

The policy was not without its critics. Some economists noted that previous easing measures had lowered rates but did relatively little to increase lending.

In the words of Prime Minister Harold Wilson, it was forged in the "white heat of technology". In 35 years of service, the QE2 became a destination rather than a carrier, carrying about 2. Building the most famous ship in the world should have secured the future for John Brown's, but the shipyard was in trouble. Partly to keep its skilled workforce together before the Q4 order came in, it had built the Swedish liner Kungsholm and there was no profit from the new Cunarder.

John Brown's put in a tender that barely covered costs, just to make sure it got the contract. There were also fears at the time that the QE2 itself was already obsolete in the new age of transatlantic jet travel. Ian Johnston says: "She was designed to go across the Atlantic in the heavy swell at speed but principally she was designed to be a cruising ship and in that sense she was reading the future.

Mr Johnston says that in no-one foresaw the boom in cruise ships which has meant more are being built now that at any other point in history. He says: "It is ironic that the Clyde yards that produced this beautiful ship is no longer in the market to build these liners. As for the QE2 itself, it is currently berthed in Dubai. It went there in after it was sold to an investment company that wanted to turn it into a luxury hotel.

Those plans have been on hold and the ship remains in Dubai awaiting its fate. For Peter Kemp there is sadness that the ship he worked on as an apprentice is no longer in use but he says that is often the way. It would be nice to see it brought back up the Clyde. QE2 makes last stop on the Clyde. This video can not be played To play this video you need to enable JavaScript in your browser.