Federal Reserve & Obama Make Big Business Richer
This reality keeps journalist and author Timothy P. Carney, busy everyday.
There has been some talk about Federal Reserve Chairman Ben Bernanke will stop buying up 85 billion worth of bonds per month. You can find some of the discussion on this subject, amongst other things, with FOX News Sunday with Chris Wallace here.
Part of the Panel, at the end of the show, made some interesting points.
KRISTOL:” Exactly. (inaudible) mostly took the words right out of my mouth yesterday, five or six different answers about what should I think about this. So I think, yes, there was a reasonable reason for an emergency intervention in ‘08. Keeping a zero interest rate going for five years is just asking for trouble down the road. It’s kind of a Faustian bargain, and I’m afraid we will at some point pay the price for it.
The other thing I will say is I do think the zero interest rate…
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