Why Inflation Will Come

Gary North / LewRockwell.com:
Allan Meltzer wrote a very good essay for the Wall Street Journal on January 27. It dealt with the build-up in the Federal Reserve System's monetary base as a result of its purchases of government debt, especially Fannie Mae and Freddie Mac debt, in the fall of 2008. Its title and subhead tell the story: "The Fed's Anti-Inflation Exit Strategy Will Fail Sooner or later the pressure to lend out excess bank reserves will be unstoppable."

Posted by Editor at February 3, 2010 02:23 AM