Friday, December 10, 2010
Since the Fed last month announced plans to buy $600 billion in Treasury bonds in an effort to jolt the slumbering economy, small-government conservatives have gone ballistic. Former Fed Chairman Alan Greenspan has said the move could weaken the dollar, and Sarah Palin -- not usually cited as an authority on monetary policy -- has warned that the move will lead to rising prices, going so far as to invoke the hyper-inflation of 1920s Germany.
The attacks have been so intense that Fed Chairman Ben Bernanke has launched a counter-offensive, going on "60 Minutes" to defend the asset purchases as a source of much-needed economic stimulus.'
Posted by DotConnector at 09:30