Friday, February 3, 2012

William Poole: Low rate pledge is a terrible mistake

William Poole was formerly the President of the St. Louis Fed, and one of the few adults at the Fed who didn't want to supply a debt-addicted economy  with even more liquidity nirvana.

"The Fed is never going to get back to normalcy in our lifetime. This can't have a happy ending"

"The danger is that we will continue to talk about that target and let things slide and all of a sudden we'll look back and say, wow, look what has happened, and we've got an inflation underway that is hard to reverse..."

1 comment:

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