Was the Fed Right to Keep Stimulus Going?
U-T San Diego -- Norm Miller, University of San Diego, Answer: Yes
As I hate to act like I know enough to second guess the Fed and the market hates uncertainty. The U.S. needs to stop artificially holding down rates or we will end up with another bubble and unsustainable pile of distressed assets. It is appropriate to announce a phase out of buying our own securities. Thomas Jefferson said in 1802, “The monopoly of a single bank is certainly an evil...the less we meddle (in the economy) the better.” Smart guy. (Full Story)