Fed Chief Admits: He is worried about QEing

[JohnyMac]

I ran across this earlier and thought it was interesting. I copy & paste the most interesting part.

...Plosser, a noted hawk at the Federal Open Market Committee, expressed concerns over the unwinding of the central bank’s asset purchases. The Fed has undergone three stages of quantitative easing (QE) since the finical crash of 2008 in an effort to increase liquidity and stimulate lending. Its bond purchases of $85 billion-a-month last year have been dialed back at recent policy meetings, with $65 billion added to the economy this month as the Fed proceeds towards the exit door.

“I am very worried about the potential for unintended consequences of all this action. And it’s very difficult for us to know because we’ve never done this before,” Plosser said, adding that the curbing of this extra liquidity in the global economy would be “very challenging”.

“Sometimes if you don’t have Plan B, you don’t have a plan,” he warned...

[Burt Gummer]

Right back at ya JM

http://youtu.be/5Qf6Sv3A9zs

I am constantly amazed at how much they can say but not really have it mean anything.
Allow me to translate:

...Plosser, a guy who for a living talks about how fast they should reduce the value of a currency, expressed concerns over the fact that they are currently buying less official IOU's from the Gov from the worlds only bottomless bank account. The Fed has undergone a constant money inflation that they just increased for a while to create an artificial economic boom because the availability of credit that isn't likely going to last (QE) since the continued decline of the last century which was rediscovered in 2008 in an effort to fool the public into not holding on to their capital so it can be taxed and have it no longer be theirs but ours! (evil laugh). It's almost ritualistic paper shuffling of $85 billion-a-month of which you puny mortal have no idea how it affects your day to day. last year have been dialed back because our foreign competitors are getting ancy, so we cut it down to $65 billion because we're so smart and you're not, which added subtracted from the economy this month as the Fed members are buying as much crap before it all comes down on their heads.

In the long run we're all dead

This is also a reason I'm not fond of "the blaze" they peddle this stuff as if it means something. Now look at the video of god saving this dog.

[JohnyMac]

Great translation Burt!