It looks like the Federal Reserve's indications that it would indulge in more quantitative easing to loosen up the economy are being taken seriously. People bought five-year inflation-protected treasury bonds today at a negative interest rate, which means that "if inflation doesn't appear as investors expect, they could end up paying to lend money to the government." This is not good news to everyone — bond honcho and PIMCO CEO Mohamed El-Erian thinks the moves won't do anything to create jobs and "we’ll have the same issues in six to nine months time with the rest of the world being inflated." Either way, it likely means that no one will be forced to pull out the "Whip Deflation Now!" bumper stickers anytime soon.
Photo: Photo-illustration: Mary-Louise Price; Photos: KAREN BLEIER/AFP/Getty Images, Disney