If you were greatly increasing economy in 2012 you might not see the type of rebound you were hoping for as the Federal Reserve on Wednesday said internet rates will likely remain at super-low rates until 2014, a signal that the organization doesn’t believe the economy will right itself before that time.

In a statement the Fed said the economy has “moderately” picked up but growth is expected to be sluggish at best with an increase of just 2.7% in 2012 and 3.2% in 2013. If all goes as planned the agency believes economy growth could climb to 4% in 2014.

According to the chief US economist at HSBC in a discussion with the New York Times:

“What did we learn today? Things are bad, and they’re not improving at the rate that they want them to improve.”

That assessment came after the Feds attempted to increase transparency this week when for the first time they published the individual predictions of the policy-making committee’s 17 members. Of those members 11 said they expected interest rates to stay low until 2014.

News of the extended low rates didn’t have much effect on market pricing as such an announcement was expected.

In his statement chairman Ben Bernanke wrote:

“I wouldn’t overstate the Fed’s ability to massively change expectations through its statements. It’s important for us to say what we think, and it’s important for us to provide the right amount of stimulus to help the economy recover from its currently underutilized condition.”

The Fed also stated that they would like to push unemployment under 6% before the end of 2014 while keeping inflation around 2%. Analysts expect inflation to sit around 6.7% by the end of 2014.

Ben Bernanke Says Full Economic Recovery Is Years Away is a post from: The Inquisitr

25% off when you spend $700 billion or more

Guy King can laugh, but Australian’s haven’t woken up to the fact yet that the RBA (Reserve Bank of Australia) has been pumping tens of billions into the financial system recently without any serious scrutiny…eventually though, some one is bound to notice.

RetailMeNot offers bailout discount code is a post from: The Inquisitr

The Fed, never one to sit back and not try and save the market from itself, has announced an offer where banks will be able swap their unsaleable mortgage backed securities for Treasury bonds, but as we write this post, whether that will be enough to prevent the biggest black Monday of all time is yet to be seen.

Nouriel Roubini, quoted in Crikey, says

“What we are facing now is the beginning of the unravelling and collapse of the entire shadow financial system…The step by step, ad hoc and non-holistic approach of Fed and Treasury to crisis management has been a failure so far as plugging and filling one hole at the time is useless when the entire system of levies is collapsing in the perfect financial storm of the century.”

My FSRA License expired a few years ago, so under Australian law I can no longer provide financial advice, but others are saying: you should be afraid.

Whether the market takes the blow and handles the news, or whether it takes a massive dive, you can track/ watch Black Monday live online.

Stock prices

Google Finance now offers live market prices from major stock exchanges as does Yahoo Finance. Both include coverage of the European markets, which may be the first indicators of how big the hit will be following the Lehman Brothers news. The main stock exchanges directly: NYSE, NASDAQ, AMEX.

Blogs

Silicon Alley Insider is one of the better bets among the tech blogs, Henry Blodget is a former trader, and understands the market. AOL’s BloggingStocks will have lots of coverage, and at worst case, hit The Inquisitr logo on this post (or the link), we’ll also be covering some of it as well, particularly any tech angles.

Live video

Livestation once again offers the best live video coverage of all sites. Along with their partner sites, you can also watch Bloomberg live as well, which will offer you non-stop coverage.

Station websites will also offer coverage. CNN is always a good bet.

Other

Look to Twitter and FriendFeed for information, users of both will be providing filtered links of the things you need to know. Reddit will as always offer a unique take. Google News is another outlet you can use. For the blogging reaction, try Technorati.

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Track/ watch Black Monday live online is a post from: The Inquisitr