Fed’s Own Official Raises Doubts About New $600 Billion Program
- Posted on November 8, 2010 at 3:34pm by
Jonathon M. Seidl
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WASHINGTON (AP) — A Federal Reserve official with a close working relationship with Chairman Ben Bernanke is expressing skepticism over the Fed’s new $600 billion program to bolster the economy.
Kevin Warsh, a Fed governor, warns that there are “significant risks” associated with the Fed’s bond-buying program, including the potential for triggering inflation.
The Fed’s program, announced last week, is aimed getting Americans to spend more and invigorate the economy by making loans cheaper. But Warsh doubts the program will have “significant” or “durable benefits” for the economy. Despite his reservations, Warsh voted for the program.
During the 2008 financial crisis, Warsh worked closely with Bernanke to craft programs to get credit — the economy’s oxygen — to flow again.
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michelepfaff
Posted on November 9, 2010 at 7:21amThis has to stop now! Let the market balance itself – at this point it will be a bit painful but it will happen if we stop messing with it.
Report Post »Cowboy
Posted on November 9, 2010 at 3:58am“Fed’s Own Official Raises Doubts About New $600 Billion Program”
After the $800+billion “stimulus” failed? Whoda thunk it?
End QE and end the “Stimulus”
Report Post »pamela kay
Posted on November 9, 2010 at 3:08amWe need to let our voices continue to be heard and rally to stop this. It is a huge mistake that will cripple our economy even further. No time to relax. we have to keep on top of things.
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