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The Fed should tell the POTUS and the members of Congress that it will no longer carry water for them. Defend the dollar, raise rates, raise the interest on the debt, and force the bastards to quit spending our money!
On Tuesday, the Federal Reserve re-affirmed its commitment to using unconventional efforts to stimulate the economy.
In the latest Fed statement, the central bank said it would keep buying $40 billion in mortgage-backed debt per month to push interest rates lower.
The Fed also repeated its vow to keep interest rates near zero until mid-2015.
Although that may seem like the Fed is sending a signal to markets that they’re intent to drive the economy, no matter what the cost – that may not be what the Fed is really saying.
According to former Fed Governor Kevin Warsh the move isn’t a show of strength – it’s something far more ominous.
“I think the Fed...
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