The Federal Reserve was originally charged with the single mandate of maintaining price stability. In recent decades that mission evolved into a dual mandate of seeking price stability and full employment. I believe that a Yellen led Fed will return once again to a single mandate, but now it will focus only on employment. Based on her clear beliefs in the ability of dovish monetary policy to relive human suffering she will be inclined to dig in her heels into the ongoing QE program more than anyone else President Obama may have appointed. This is terrible news for the U.S. dollar and the U.S. economy.-Peter Schiff ‘Stimulus’ Will be the Answer to Everything"The Fed will be looser for longer. The FOMC will continue to print money until the US economy creates enough jobs to reignite wage pressures and inflation, regardless of asset bubbles, or collateral damage along the way."-Rejoice: the Yellen Fed will print money forever Wait a minute, didn't Zimbabwe already try that?
Wednesday, October 9, 2013
Money printing now, money printing tomorrow and money printing forever!
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"Wait a minute, didn't Zimbabwe already try that?"
ReplyDeleteSo did the Yuan dynasty ... which is one reason it lasted less than a century.