Thursday, August 23, 2012

Chicago Fed President Wants Global Money Printing

Federal Reserve Bank of Chicago President Charles Evans urged easier monetary policy around the world, reports Bloomberg.

“I don’t need to see any more data to know that I think we should have more accommodation,” Evans said to reporters today in Beijing, referring to the U.S. “I certainly would applaud anybody who takes action in order to strengthen their economies” around the world, including China, he said, according to B.

“This is a time where the most vibrant economies possible would be a good defense against unanticipated negative shocks,” Evans said in a press briefing at the U.S. Embassy in Beijing.

Currently, the People's Bank of China, the European Central Bank and the Federal Reserve are maintaining slow money growth policies. If these central banks reverse this policy global price inflation could be massive. Indications are that the ECB may go on such a money printing spree soon, and the Fed may do so, perhaps after the election.


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