Friday, March 16, 2012

Chicago Fed Prez: Fed Needs to Keep on Printing Money

Oh yeah.

Bloomberg reports:
Chicago Fed President Charles Evans, in remarks prepared for delivery at the International Research Forum on Monetary Policy in Germany, said the Fed needs to keep juicing the economy with low borrowing costs.

With growth too slow to quickly bring down a still-high jobless rate, "monetary policy can and should take additional steps to facilitate a more robust economic expansion," he said.

Evans said he did not believe inflation is on the verge of spiking above the Fed's 2 percent goal or that unemployment is stuck at high levels for structural reasons.

"I just don't see the evidence out there supporting this view," he said. "But if we do buy into it, then we'll end up following overly restrictive policies that could unnecessarily risk condemning the U.S. economy to a lost decade—or even more."
Give the man the 50 Million Reichsmark Award.

1 comment:

  1. When is the line going to be officially blurred between monetary policy and propping up a bankrupt state? For serious growth, lol, the fed will have to keep 0% rates forever and ever amen. Otherwise the gov bill will be insane meaning higher taxes and less growth.